Lingohr Asset Management GmbH Makes New $1.13 Million Investment in Wells Fargo & Company (NYSE:WFC)

Lingohr Asset Management GmbH acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, Holdings Channel.com reports. The firm acquired 16,081 shares of the financial services provider’s stock, valued at approximately $1,127,000. Wells Fargo & Company makes up about 2.3% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 7th largest position.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Piper Sandler raised their price objective 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. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Stock Up 2.4 %

NYSE:WFC opened at $72.79 on Thursday. 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 has a 12-month low of $50.15 and a 12-month high of $81.50. The stock’s fifty day simple moving average is $75.88 and its 200-day simple moving average is $69.22. The firm has a market capitalization of $239.35 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its 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. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

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.