Retireful LLC Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Retireful LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,376 shares of the financial services provider’s stock, valued at approximately $1,291,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP bought a new position in Wells Fargo & Company during the third quarter worth about $160,529,000. Marshall Wace LLP grew its position in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after buying an additional 2,404,898 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the last quarter. Finally, National Pension Service raised its position in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WFC shares. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & Company Trading Down 0.0 %

Shares of NYSE:WFC opened at $75.94 on Friday. The company’s 50-day moving average price is $72.47 and its two-hundred day moving average price is $63.24. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $252.85 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.