Wells Fargo & Company (NYSE:WFC) Stake Reduced by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 692,905 shares of the financial services provider’s stock after selling 167 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Wells Fargo & Company were worth $48,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC grew its stake in Wells Fargo & Company by 15.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 22,926 shares of the financial services provider’s stock worth $1,610,000 after buying an additional 3,002 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Wells Fargo & Company by 8.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 771,917 shares of the financial services provider’s stock worth $54,297,000 after purchasing an additional 63,200 shares in the last quarter. Tredje AP fonden grew its stake in shares of Wells Fargo & Company by 24.1% in the fourth quarter. Tredje AP fonden now owns 1,906,244 shares of the financial services provider’s stock worth $133,895,000 after purchasing an additional 369,820 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Essential Planning LLC. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $9,366,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 2.5 %

Shares of NYSE WFC opened at $68.98 on Thursday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market cap of $226.83 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.18 and a beta of 1.16. 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 business has a fifty day simple moving average of $75.94 and a 200-day simple moving average of $68.74.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during 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%. Wells Fargo & Company’s 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. Sell-side analysts predict 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. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.