Flputnam Investment Management Co. Acquires 966 Shares of Wells Fargo & Company (NYSE:WFC)

Flputnam Investment Management Co. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 16.2% during the fourth quarter, HoldingsChannel reports. The fund owned 6,926 shares of the financial services provider’s stock after acquiring an additional 966 shares during the quarter. Flputnam Investment Management Co.’s holdings in Wells Fargo & Company were worth $486,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Veridan Wealth LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $9,630,000. Fortress Financial Group LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $440,000. Argyle Capital Management LLC raised its position in Wells Fargo & Company by 1.7% in the 4th quarter. Argyle Capital Management LLC now owns 42,796 shares of the financial services provider’s stock valued at $3,006,000 after buying an additional 703 shares during the last quarter. HC Advisors LLC lifted its stake in Wells Fargo & Company by 15.6% during the 4th quarter. HC Advisors LLC now owns 4,848 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 655 shares in the last quarter. Finally, Linscomb Wealth Inc. boosted its holdings in Wells Fargo & Company by 2.1% during the 4th quarter. Linscomb Wealth Inc. now owns 9,504 shares of the financial services provider’s stock worth $668,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WFC shares. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $76.96 on Tuesday. The company has a 50-day moving average price of $76.00 and a two-hundred day moving average price of $68.11. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $253.06 billion, a PE ratio of 14.30, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s payout ratio is 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.