Wells Fargo & Company (NYSE:WFC) Shares Acquired by Vivid Wealth Management LLC

Vivid Wealth Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,912 shares of the financial services provider’s stock after buying an additional 325 shares during the quarter. Vivid Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. National Pension Service raised its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 2.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB increased 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 worth $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP increased its position in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP purchased a new stake in Wells Fargo & Company during the 3rd quarter worth about $160,529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $79.68 on Friday. The business’s 50-day simple moving average is $74.30 and its 200-day simple moving average is $65.96. The firm has a market capitalization of $265.29 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $48.62 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

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.