YHB Investment Advisors Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 95.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,453 shares of the financial services provider's stock after buying an additional 75,914 shares during the quarter. YHB Investment Advisors Inc.'s holdings in Wells Fargo & Company were worth $6,497,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,049,693,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider's stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Capital International Investors grew its holdings in shares of Wells Fargo & Company by 69.1% during the 2nd quarter. Capital International Investors now owns 61,833,769 shares of the financial services provider's stock worth $2,638,987,000 after purchasing an additional 25,268,032 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider's stock worth $406,609,000 after purchasing an additional 7,859,100 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $345,861,000. Institutional investors and hedge funds own 72.47% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on WFC shares. UBS Group upped their price target on Wells Fargo & Company from $51.00 to $53.00 in a research report on Thursday, October 12th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $44.00 price objective on shares of Wells Fargo & Company in a research note on Friday, September 22nd. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $52.00 to $54.00 and gave the stock a "market perform" rating in a research note on Monday, October 16th. Piper Sandler boosted their price objective on Wells Fargo & Company from $45.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, December 8th. Finally, Raymond James boosted their price objective on Wells Fargo & Company from $52.00 to $55.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, December 6th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $49.56.
Check Out Our Latest Research Report on WFC
Insider Buying and Selling
In other news, Director Richard K. Davis acquired 3,500 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average price of $41.22 per share, for a total transaction of $144,270.00. Following the transaction, the director now directly owns 4,244 shares of the company's stock, valued at approximately $174,937.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
Wells Fargo & Company Price Performance
Shares of WFC traded down $0.26 during midday trading on Friday, hitting $49.22. The company's stock had a trading volume of 11,733,578 shares, compared to its average volume of 18,555,124. Wells Fargo & Company has a one year low of $35.25 and a one year high of $50.77. The company's fifty day simple moving average is $44.16 and its two-hundred day simple moving average is $43.06. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $178.75 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.97 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.15. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.09 billion. Wells Fargo & Company had a return on equity of 11.18% and a net margin of 17.06%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 4.98 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 2.84%. Wells Fargo & Company's dividend payout ratio is currently 30.24%.
About Wells Fargo & Company
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
See Also
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