J. Safra Sarasin Holding AG Buys New Shares in Wells Fargo & Company (NYSE:WFC)

J. Safra Sarasin Holding AG purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,614 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other hedge funds also recently bought and sold shares of the stock. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $30,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on 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 Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Truist Financial decreased their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Citigroup dropped their price target 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. Finally, Barclays reduced their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $67.91 on Thursday. The firm has a market cap of $221.74 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The business’s 50-day moving average price is $70.44 and its 200 day moving average price is $71.26. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced 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 for the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.36%. 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.