Ensign Peak Advisors Inc Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Ensign Peak Advisors Inc grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,980,243 shares of the financial services provider's stock after acquiring an additional 976,112 shares during the quarter. Wells Fargo & Company comprises about 0.6% of Ensign Peak Advisors Inc's portfolio, making the stock its 26th largest position. Ensign Peak Advisors Inc owned 0.15% of Wells Fargo & Company worth $349,812,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company during the 4th quarter valued at $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the 4th quarter valued at $28,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.1 %

Wells Fargo & Company stock opened at $73.29 on Friday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The business has a fifty day moving average price of $69.07 and a 200-day moving average price of $72.07. 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 stock has a market capitalization of $238.49 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter last year, the company earned $1.20 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its board has approved a stock buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of research analysts have recently commented on WFC shares. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Citigroup reduced their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Piper Sandler lowered their price target on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial lowered their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & 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.

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