Lincoln National Corp Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Lincoln National Corp increased its stake in Wells Fargo & Company (NYSE:WFC) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,166 shares of the financial services provider’s stock after acquiring an additional 380 shares during the period. Lincoln National Corp’s holdings in Wells Fargo & Company were worth $2,174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. First Financial Corp IN grew its stake in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the last quarter. CX Institutional boosted its position in Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after buying an additional 217 shares during the period. ERTS Wealth Advisors LLC grew its stake in Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 228 shares in the last quarter. Prio Wealth Limited Partnership raised its stake in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 244 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.25 during trading on Wednesday, hitting $60.51. 3,923,171 shares of the company traded hands, compared to its average volume of 18,723,367. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 1 year low of $37.18 and a 1 year high of $61.76. The stock’s 50-day simple moving average is $57.86 and its 200 day simple moving average is $50.62. The company has a market cap of $210.96 billion, a PE ratio of 12.58, a P/E/G ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s payout ratio is 29.23%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WFC shares. HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Piper Sandler cut their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $58.99.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.