Wells Fargo & Company (NYSE:WFC) Shares Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 44.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,892 shares of the financial services provider’s stock after buying an additional 4,255 shares during the period. CreativeOne Wealth LLC’s holdings in Wells Fargo & Company were worth $976,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $3,365,658,000. Nordea Investment Management AB boosted its position in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Wells Fargo & Company by 6.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock worth $389,707,000 after buying an additional 352,821 shares during the last quarter. FIL Ltd lifted its stake in Wells Fargo & Company by 2.6% in the fourth quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider’s stock valued at $290,710,000 after buying an additional 104,136 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in Wells Fargo & Company by 53.9% in the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after buying an additional 1,150,443 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.0 %

Shares of NYSE:WFC opened at $64.63 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $211.02 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a 50 day moving average price of $71.53 and a 200 day moving average price of $70.98.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday, March 13th. Truist Financial reduced their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Citigroup lowered their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Piper Sandler lowered their price target on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.