Taika Capital LP Acquires Shares of 5,180 Wells Fargo & Company (NYSE:WFC)

Taika Capital LP acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 5,180 shares of the financial services provider’s stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in 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 acquiring an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the third 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 grew its stake in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after acquiring an additional 1,105,679 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after acquiring an additional 889,953 shares during the period. Finally, KBC Group NV grew its stake in shares of Wells Fargo & Company by 63.1% in the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock worth $137,832,000 after acquiring an additional 758,893 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $71.01 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market capitalization of $233.50 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s 50 day simple moving average is $76.10 and its two-hundred day simple moving average is $68.59.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFC. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler lifted their price target on shares of 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 lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.