Mizuho Bank Ltd. Invests $69,000 in Wells Fargo & Company (NYSE:WFC)

Mizuho Bank Ltd. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 980 shares of the financial services provider’s stock, valued at approximately $69,000.

Other institutional investors have also recently bought and sold shares of the company. Spinnaker Trust increased its holdings in shares of Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC increased its holdings in Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 134 shares in the last quarter. Crown Wealth Group LLC raised its position in Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management boosted its stake in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares in the last quarter. Finally, New Republic Capital LLC grew its holdings in shares of Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their price target on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $60.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $74.93 and its 200-day moving average price is $70.44. The firm has a market capitalization of $198.89 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business 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%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.