Wells Fargo & Company (NYSE:WFC) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in Wells Fargo & Company (NYSE:WFC) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,082 shares of the financial services provider’s stock after acquiring an additional 402 shares during the quarter. King Luther Capital Management Corp’s holdings in Wells Fargo & Company were worth $6,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sage Mountain Advisors LLC lifted its stake in shares of Wells Fargo & Company by 13.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 18,351 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 2,183 shares during the period. Net Worth Advisory Group lifted its stake in shares of Wells Fargo & Company by 18.6% during the 4th quarter. Net Worth Advisory Group now owns 18,162 shares of the financial services provider’s stock worth $1,276,000 after purchasing an additional 2,846 shares during the period. Davis R M Inc. boosted its holdings in shares of Wells Fargo & Company by 7.4% during the fourth quarter. Davis R M Inc. now owns 9,884 shares of the financial services provider’s stock worth $694,000 after purchasing an additional 677 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Wells Fargo & Company by 11.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 31,567 shares of the financial services provider’s stock valued at $2,217,000 after purchasing an additional 3,176 shares during the period. Finally, Keb Asset Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $217,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on WFC shares. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $67.33 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a 50-day moving average of $75.96 and a 200-day moving average of $68.74. The company has a market capitalization of $221.40 billion, a P/E ratio of 12.52, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities 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. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 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.