Vise Technologies Inc. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 41.4% during the fourth quarter, Holdings Channel reports. The fund owned 113,487 shares of the financial services provider’s stock after acquiring an additional 33,245 shares during the quarter. Vise Technologies Inc.’s holdings in Wells Fargo & Company were worth $10,577,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Private Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.5% during the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 108 shares during the last quarter. Nixon Peabody Trust Co. increased its holdings in shares of Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 115 shares during the last quarter. Simmons Bank increased its holdings in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 117 shares during the last quarter. Finally, Main Street Group LTD increased its holdings in shares of Wells Fargo & Company by 36.9% during the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 118 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Performance
WFC opened at $81.50 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $71.93 and a 52-week high of $97.76. The firm has a market cap of $249.41 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The business’s fifty day moving average is $79.16 and its 200-day moving average is $84.72.
Wells Fargo & Company Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.
Analysts Set New Price Targets
A number of brokerages have commented on WFC. Morgan Stanley decreased their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their target price on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. KGI Securities lowered Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.53.
Read Our Latest Analysis on WFC
Key Headlines Impacting Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Several reports said Wall Street remains bullish on Wells Fargo after the CEO offered a strong outlook, with 69% of covering analysts rating the stock a Buy and the average price target implying substantial upside. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
- Positive Sentiment: Bank of America said Wells Fargo shares may be at an attractive entry point, arguing that the stock’s recent pullback looks larger than the deterioration in fundamentals and could appeal to value-focused investors. Wells Fargo shares at attractive entry point amid execution concerns
- Positive Sentiment: Investor interest has also picked up, with Zacks noting WFC has become a trending stock as market participants look for a buy case in the shares. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
- Neutral Sentiment: Wells Fargo also drew attention for consumer-focused homebuying research and broader financial wellness commentary, but these items are more informational than directly material to near-term earnings. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren’t and Don’t Know It
About Wells Fargo & Company
Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.
Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.
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