O Shaughnessy Asset Management LLC Acquires 140,678 Shares of Wells Fargo & Company (NYSE:WFC)

O Shaughnessy Asset Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,997 shares of the financial services provider’s stock after acquiring an additional 140,678 shares during the period. Wells Fargo & Company accounts for about 0.9% of O Shaughnessy Asset Management LLC’s portfolio, making the stock its 12th biggest position. O Shaughnessy Asset Management LLC’s holdings in Wells Fargo & Company were worth $107,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in Wells Fargo & Company by 13.8% during the 3rd quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 3,016 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Wells Fargo & Company during the third quarter worth $256,000. CreativeOne Wealth LLC boosted its stake in shares of Wells Fargo & Company by 51.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock worth $544,000 after buying an additional 3,285 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Financial Counselors Inc. now owns 19,010 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 373 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in Wells Fargo & Company by 75.5% during the third quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 3,269 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $70.71 on Friday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $230.87 billion, a P/E ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The company has a 50 day simple moving average of $75.84 and a two-hundred day simple moving average of $70.03.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WFC shares. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup reduced their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & 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.