Wells Fargo & Company $WFC Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 516,347 shares of the financial services provider’s stock after purchasing an additional 9,959 shares during the period. Daiwa Securities Group Inc.’s holdings in Wells Fargo & Company were worth $48,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors raised its holdings in shares of Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after acquiring an additional 5,584,930 shares during the period. Mawer Investment Management Ltd. raised its holdings in shares of Wells Fargo & Company by 177.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after acquiring an additional 3,120,399 shares during the period. Danske Bank A S acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $215,638,000. Finally, M&G PLC raised its holdings in shares of Wells Fargo & Company by 320.3% during the third quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after acquiring an additional 2,245,307 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 topic of a number of recent analyst reports. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a report on Friday, February 13th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Truist Financial lowered their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $81.50 on Friday. The stock has a market cap of $249.41 billion, a P/E ratio of 12.58, a PEG ratio of 0.92 and a beta of 0.93. Wells Fargo & Company has a one year low of $71.93 and a one year high of $97.76. The company has a fifty day moving average price of $79.16 and a 200 day moving average price of $84.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. Analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 27.78%.

Key Stories Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Several reports said Wall Street remains bullish on Wells Fargo after the CEO offered a strong outlook, with 69% of covering analysts rating the stock a Buy and the average price target implying substantial upside. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Bank of America said Wells Fargo shares may be at an attractive entry point, arguing that the stock’s recent pullback looks larger than the deterioration in fundamentals and could appeal to value-focused investors. Wells Fargo shares at attractive entry point amid execution concerns
• Positive Sentiment: Investor interest has also picked up, with Zacks noting WFC has become a trending stock as market participants look for a buy case in the shares. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo also drew attention for consumer-focused homebuying research and broader financial wellness commentary, but these items are more informational than directly material to near-term earnings. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren’t and Don’t Know It

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.