Wells Fargo & Company $WFC Position Increased by Natixis Advisors LLC

Natixis Advisors LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,644,124 shares of the financial services provider’s stock after buying an additional 161,239 shares during the period. Natixis Advisors LLC’s holdings in Wells Fargo & Company were worth $339,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Heritage Trust Co lifted its stake in Wells Fargo & Company by 1.7% during the fourth quarter. Heritage Trust Co now owns 18,090 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 296 shares in the last quarter. Camden National Bank lifted its stake in Wells Fargo & Company by 10.0% during the fourth quarter. Camden National Bank now owns 4,176 shares of the financial services provider’s stock valued at $389,000 after buying an additional 378 shares in the last quarter. Strategic Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $207,000. Mutual of America Capital Management LLC lifted its stake in Wells Fargo & Company by 1.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 351,150 shares of the financial services provider’s stock valued at $32,727,000 after buying an additional 3,902 shares in the last quarter. Finally, Beto Financial Group LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $256,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.26 on Tuesday. Wells Fargo & Company has a fifty-two week low of $71.93 and a fifty-two week high of $97.76. The stock’s 50-day moving average is $79.08 and its two-hundred day moving average is $84.84. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $236.43 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFC. Piper Sandler reissued an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & 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.