Lbp Am Sa Buys 35,429 Shares of Wells Fargo & Company (NYSE:WFC)

Lbp Am Sa lifted its stake in Wells Fargo & Company (NYSE:WFC) by 199.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,216 shares of the financial services provider’s stock after purchasing an additional 35,429 shares during the period. Lbp Am Sa’s holdings in Wells Fargo & Company were worth $3,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Madison Investment Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $2,921,000. Impact Capital Partners LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $261,000. CFO4Life Group LLC boosted its position in shares of Wells Fargo & Company by 49.6% in the 4th quarter. CFO4Life Group LLC now owns 9,174 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 3,042 shares during the last quarter. Balboa Wealth Partners bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $301,000. Finally, HBK Sorce Advisory LLC lifted its holdings in Wells Fargo & Company by 15.1% during the fourth quarter. HBK Sorce Advisory LLC now owns 22,926 shares of the financial services provider’s stock worth $1,610,000 after acquiring an additional 3,002 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $70.96 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s 50-day simple moving average is $75.89 and its 200 day simple moving average is $68.93. The company has a market cap of $233.31 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.39.

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.