Taika Capital LP Buys New Shares in Wells Fargo & Company (NYSE:WFC)

Taika Capital LP bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,180 shares of the financial services provider’s stock, valued at approximately $364,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Leavell Investment Management Inc. grew its holdings in shares of Wells Fargo & Company by 1.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 21,342 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 281 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $2,300,000. Assetmark Inc. grew its holdings in Wells Fargo & Company by 5.6% in the 3rd quarter. Assetmark Inc. now owns 382,717 shares of the financial services provider’s stock worth $21,620,000 after acquiring an additional 20,149 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Wells Fargo & Company by 1.7% in the 3rd quarter. Lindbrook Capital LLC now owns 21,019 shares of the financial services provider’s stock worth $1,187,000 after acquiring an additional 345 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Wells Fargo & Company by 111.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock worth $1,947,000 after acquiring an additional 18,138 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have given a 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 $73.39.

Wells Fargo & Company Trading Down 2.3 %

Shares of NYSE WFC opened at $71.01 on Monday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a market cap of $233.50 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm has a 50-day moving average of $76.10 and a 200 day moving average of $68.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.