Loomis Sayles & Co. L P Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Loomis Sayles & Co. L P raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,384 shares of the financial services provider’s stock after buying an additional 196 shares during the period. Loomis Sayles & Co. L P’s holdings in Wells Fargo & Company were worth $97,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WFC. Dynamic Technology Lab Private Ltd purchased a new position in Wells Fargo & Company during the third quarter valued at $256,000. CreativeOne Wealth LLC raised its stake in shares of Wells Fargo & Company by 51.7% in the third 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 period. Martingale Asset Management L P lifted its position in shares of Wells Fargo & Company by 75.5% during the 3rd quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider’s stock valued at $429,000 after buying an additional 3,269 shares in the last quarter. Acropolis Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $119,000. Finally, Semmax Financial Advisors Inc. increased its holdings in Wells Fargo & Company by 12.7% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 93,119 shares of the financial services provider’s stock worth $5,260,000 after acquiring an additional 10,459 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 2.2 %

Shares of NYSE WFC opened at $70.71 on Monday. 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 12-month low of $50.15 and a 12-month high of $81.50. The firm’s 50-day moving average price is $75.84 and its 200-day moving average price is $70.14. The stock has a market capitalization of $230.87 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analyst Ratings Changes

WFC has been the topic of several analyst reports. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group upped their target price 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. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 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 stock a “buy” rating in a report on Thursday, January 16th. Finally, Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.