Harvest Investment Services LLC Takes $334,000 Position in Wells Fargo & Company (NYSE:WFC)

Harvest Investment Services LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,752 shares of the financial services provider's stock, valued at approximately $334,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Dimensional Fund Advisors LP increased its stake in Wells Fargo & Company by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock valued at $1,430,742,000 after buying an additional 238,131 shares during the last quarter. Capital Research Global Investors lifted its position in Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. Capital World Investors boosted its stake in shares of Wells Fargo & Company by 0.4% during the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock worth $977,338,000 after buying an additional 62,099 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after acquiring an additional 575,892 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.16 during trading on Friday, hitting $69.72. The company had a trading volume of 17,768,814 shares, compared to its average volume of 17,461,739. 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 firm has a market capitalization of $227.65 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The stock's 50-day moving average price is $70.01 and its 200 day moving average price is $71.62. Wells Fargo & Company has a one year low of $50.15 and a one 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 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 firm had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the prior 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 analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is presently 28.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Piper Sandler lowered their price target on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Six investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.