BNP Paribas grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1,893.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,396 shares of the financial services provider’s stock after acquiring an additional 17,473 shares during the quarter. BNP Paribas’ holdings in Wells Fargo & Company were worth $1,715,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of WFC. Private Wealth Group LLC raised its stake in Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. raised its position in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after buying an additional 115 shares in the last quarter. Simmons Bank raised its position in shares of Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after buying an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 117 shares during the period. Finally, Main Street Group LTD boosted its position in shares of Wells Fargo & Company by 36.9% during the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Trading Up 2.9%
NYSE WFC opened at $79.43 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a twelve month low of $71.93 and a twelve month high of $97.76. The company has a market cap of $243.07 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93. The business’s fifty day moving average is $79.08 and its 200 day moving average is $84.84.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on WFC shares. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Barclays reduced their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods dropped their price objective on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.53.
View Our Latest Stock Analysis on WFC
Key Wells Fargo & Company News
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo shares rose as recent market commentary highlighted the stock’s recent strength versus the broader market, reinforcing momentum in the name. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
- Positive Sentiment: Investors are also weighing Wells Fargo’s valuation after a recent pullback, which may be drawing value-oriented buyers into the stock. Is Wells Fargo (WFC) Offering Value After Recent Share Price Pullback?
- Positive Sentiment: Wells Fargo is set to present at the Morgan Stanley U.S. Financials Conference next week, which keeps the company in focus and could provide fresh updates on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference
About Wells Fargo & Company
Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.
Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.
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