Quintet Private Bank Europe S.A. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Quintet Private Bank Europe S.A. bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 688 shares of the financial services provider’s stock, valued at approximately $48,000.

Several other hedge funds also recently made changes to their positions in WFC. Two Sigma Advisers LP boosted its position in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after acquiring an additional 1,659,716 shares during the period. Artemis Investment Management LLP raised its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after buying an additional 1,105,679 shares in the last quarter. National Pension Service raised its stake 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 worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after buying an additional 889,953 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial boosted 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, January 16th. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

WFC opened at $76.96 on Tuesday. The stock has a market cap of $253.06 billion, a PE ratio of 14.30, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock’s 50 day simple moving average is $76.00 and its 200-day simple moving average is $68.11.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.