151,473 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 151,473 shares of the financial services provider’s stock, valued at approximately $10,639,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Covestor Ltd increased its holdings in Wells Fargo & Company by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 196 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $176,000. Venturi Wealth Management LLC increased its holdings in Wells Fargo & Company by 21.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,773 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 495 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Wells Fargo & Company by 6.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 259 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Wells Fargo & Company by 208.3% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 21,730 shares of the financial services provider’s stock worth $1,226,000 after purchasing an additional 14,682 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 2.5 %

Shares of WFC stock opened at $68.98 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a fifty day moving average of $75.94 and a two-hundred day moving average of $68.74. The firm has a market capitalization of $226.83 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given 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 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. 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. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.