Wells Fargo & Company (NYSE:WFC) Stock Holdings Lifted by Waverly Advisors LLC

Waverly Advisors LLC raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,313 shares of the financial services provider's stock after purchasing an additional 14,103 shares during the period. Waverly Advisors LLC's holdings in Wells Fargo & Company were worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Woodline Partners LP acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $14,044,000. Zurich Insurance Group Ltd FI acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $117,280,000. Vident Advisory LLC grew its holdings in Wells Fargo & Company by 31.1% during the fourth quarter. Vident Advisory LLC now owns 114,706 shares of the financial services provider's stock worth $8,057,000 after acquiring an additional 27,235 shares during the period. Vivaldi Capital Management LP purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $209,000. Finally, Westwood Holdings Group Inc. increased its holdings in Wells Fargo & Company by 17.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,813,129 shares of the financial services provider's stock valued at $127,354,000 after buying an additional 275,435 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Piper Sandler dropped their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Citigroup cut 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 note on Monday, March 24th. Seven investment 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.73.

Wells Fargo & Company Stock Down 0.7%

NYSE WFC traded down $0.53 during mid-day trading on Friday, reaching $72.86. 9,260,180 shares of the company's stock traded hands, compared to its average volume of 17,460,740. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.18 and a beta of 1.13. The company has a fifty day simple moving average of $70.01 and a 200-day simple moving average of $72.82. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter last year, the business posted $1.20 EPS. Wells Fargo & Company's quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

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.