Fisher Asset Management LLC Purchases 4,956 Shares of Wells Fargo & Company (NYSE:WFC)

Fisher Asset Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,789 shares of the financial services provider’s stock after acquiring an additional 4,956 shares during the quarter. Fisher Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. WR Wealth Planners LLC lifted its position in shares of Wells Fargo & Company by 15.3% in the 4th quarter. WR Wealth Planners LLC now owns 1,224 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 162 shares during the period. Maripau Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $311,000. SVB Wealth LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth $3,487,000. Flputnam Investment Management Co. boosted its position in Wells Fargo & Company by 16.2% during the 4th quarter. Flputnam Investment Management Co. now owns 6,926 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 966 shares in the last quarter. Finally, Veridan Wealth LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $9,630,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WFC shares. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 1.2 %

NYSE WFC opened at $74.20 on Thursday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $243.97 billion, a PE ratio of 13.79, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a fifty day moving average of $76.08 and a 200 day moving average of $68.28.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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 revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.