Point72 Europe London LLP Acquires 79,900 Shares of Wells Fargo & Company (NYSE:WFC)

Point72 Europe London LLP boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,925 shares of the financial services provider's stock after buying an additional 79,900 shares during the period. Wells Fargo & Company makes up 1.9% of Point72 Europe London LLP's investment portfolio, making the stock its 13th biggest holding. Point72 Europe London LLP's holdings in Wells Fargo & Company were worth $33,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company in the 4th quarter worth about $28,000. BNP Paribas purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $28,000. Rakuten Securities Inc. increased 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 valued at $30,000 after buying an additional 237 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.2%

WFC stock opened at $76.17 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a market capitalization of $247.87 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company's 50 day moving average price is $69.24 and its two-hundred day moving average price is $72.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating 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 company 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 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, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. Wells Fargo & Company's payout ratio is presently 28.73%.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Piper Sandler dropped their price objective on 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. Morgan Stanley boosted their target price 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. Finally, Bank of America lowered their price target 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. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus 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.

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