Oppenheimer & Co. Inc. Increases Position in Wells Fargo & Company (NYSE:WFC)

Oppenheimer & Co. Inc. lifted its position in Wells Fargo & Company (NYSE:WFC) by 14.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,007 shares of the financial services provider’s stock after acquiring an additional 5,717 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wells Fargo & Company were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Wells Fargo & Company by 5.2% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 14,299 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 709 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Wells Fargo & Company by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,434,500 shares of the financial services provider’s stock worth $100,759,000 after buying an additional 29,700 shares during the period. Apriem Advisors purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $203,000. Convergence Financial LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $212,000. Finally, Nwam LLC boosted its holdings in shares of Wells Fargo & Company by 58.3% in the 4th quarter. Nwam LLC now owns 8,664 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 3,191 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.3 %

Shares of Wells Fargo & Company stock opened at $78.35 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $260.87 billion, a PE ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The firm’s 50-day moving average price is $75.87 and its 200 day moving average price is $67.86.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFC. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.