Fuller & Thaler Asset Management Inc. Purchases 4,748 Shares of Wells Fargo & Company (NYSE:WFC)

Fuller & Thaler Asset Management Inc. raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,463 shares of the financial services provider's stock after purchasing an additional 4,748 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Wells Fargo & Company were worth $7,127,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WFC. Empowered Funds LLC boosted its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after buying an additional 431 shares during the period. NatWest Group plc raised its stake in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock worth $12,115,000 after buying an additional 63,102 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $1,656,000. Finally, Modera Wealth Management LLC boosted its position in Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WFC shares. Morgan Stanley raised their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Piper Sandler decreased their price target on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Bank of America decreased their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.51 during trading hours on Wednesday, reaching $70.59. The company had a trading volume of 13,285,545 shares, compared to its average volume of 17,481,473. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business has a fifty day moving average price of $69.64 and a 200-day moving average price of $71.68. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a market cap of $230.49 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

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

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

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.