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

Bogart Wealth LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,117 shares of the financial services provider’s stock after acquiring an additional 219 shares during the quarter. Bogart Wealth LLC’s holdings in Wells Fargo & Company were worth $78,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Two Sigma Advisers LP boosted its position in shares of 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 acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the period. Artemis Investment Management LLP boosted its position in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the period. Finally, National Pension Service boosted its position in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $79.68 on Friday. The company has a market cap of $265.29 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The stock has a 50 day simple moving average of $74.30 and a 200-day simple moving average of $65.96. Wells Fargo & Company has a 12-month low of $48.62 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wells Fargo & Company 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.