4,541 Shares in Wells Fargo & Company $WFC Purchased by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC purchased 4,541 shares of Wells Fargo & Company, valued at approximately $326,000, during the first quarter.
• Wells Fargo recently announced an increase in its quarterly dividend from $0.40 to $0.45, representing an annual yield of 2.3%.
• Equity analysts have mixed ratings on Wells Fargo, with a consensus rating of "Moderate Buy" and a target price of $82.56.

MBB Public Markets I LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,541 shares of the financial services provider's stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Massachusetts Financial Services Co. MA lifted its holdings in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the last quarter. GAMMA Investing LLC increased its position in Wells Fargo & Company by 7,887.9% during the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after buying an additional 3,350,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Wells Fargo & Company during the fourth quarter valued at $198,801,000. Theleme Partners LLP bought a new stake in Wells Fargo & Company in the fourth quarter worth $187,049,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $117,280,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WFC shares. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Bank of America increased their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.56.

Wells Fargo & Company Trading Up 0.3%

Shares of WFC stock opened at $79.21 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12-month low of $50.22 and a 12-month high of $84.83. The stock has a market capitalization of $253.73 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.23 and a beta of 1.25. The firm's 50 day moving average is $80.52 and its 200 day moving average is $75.01.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. During the same period in the prior year, the firm earned $1.33 EPS. The company's revenue was up .6% compared to the same quarter last year. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company's payout ratio is 30.82%.

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.

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