Czech National Bank increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 44.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 639,480 shares of the financial services provider's stock after purchasing an additional 195,291 shares during the period. Czech National Bank's holdings in Wells Fargo & Company were worth $26,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in WFC. Studio Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the first quarter valued at $28,000. Financial Connections Group Inc. increased its holdings in Wells Fargo & Company by 288.0% in the second quarter. Financial Connections Group Inc. now owns 741 shares of the financial services provider's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Wells Fargo & Company in the third quarter valued at $34,000. Finally, Central Bank & Trust Co. increased its holdings in Wells Fargo & Company by 444.8% in the third quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider's stock valued at $37,000 after buying an additional 734 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.
Insider Activity
In other news, Director Richard K. Davis purchased 3,500 shares of the stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $41.22 per share, for a total transaction of $144,270.00. Following the acquisition, the director now directly owns 4,244 shares of the company's stock, valued at approximately $174,937.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company's stock.
Wells Fargo & Company Price Performance
WFC traded down $0.31 on Wednesday, reaching $49.33. 7,112,220 shares of the company's stock were exchanged, compared to its average volume of 19,274,539. The stock has a market cap of $179.15 billion, a PE ratio of 10.64, a P/E/G ratio of 0.96 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $50.77. The stock's fifty day moving average price is $43.66 and its 200-day moving average price is $42.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.87 and a quick ratio of 0.87.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, October 13th. The financial services provider reported $1.39 earnings per share 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 net margin of 17.06% and a return on equity of 11.18%. Wells Fargo & Company's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.04 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company's dividend payout ratio (DPR) is 30.24%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Wells Fargo & Company in a report on Friday, September 22nd. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, December 4th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, December 8th. BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company a "market perform" rating in a report on Monday, October 16th. Finally, Raymond James lifted their target price on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Wednesday, December 6th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $49.56.
Check Out Our Latest Report on Wells Fargo & Company
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
