Keybank National Association OH Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Keybank National Association OH lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,949,912 shares of the financial services provider’s stock after selling 14,107 shares during the quarter. Keybank National Association OH owned 0.06% of Wells Fargo & Company worth $136,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. National Pension Service increased its position in shares of Wells Fargo & Company by 15.2% during the third 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 last quarter. Diamond Hill Capital Management Inc. increased its stake in Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after buying an additional 162,066 shares during the period. Nordea Investment Management AB boosted its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of 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 purchasing an additional 5,237,500 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of 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 purchasing an additional 1,659,716 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 1.7 %

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

Wells Fargo & Company (NYSE:WFC) last released its 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 return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

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.