Xponance Inc. Buys 30,874 Shares of Wells Fargo & Company (NYSE:WFC)

Xponance Inc. increased its stake in Wells Fargo & Company (NYSE:WFC) by 6.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 547,922 shares of the financial services provider’s stock after acquiring an additional 30,874 shares during the period. Xponance Inc.’s holdings in Wells Fargo & Company were worth $26,969,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WFC. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter worth $2,049,693,000. Moneta Group Investment Advisors LLC lifted its position in shares of Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after purchasing an additional 7,859,100 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Wells Fargo & Company during the first quarter worth $345,861,000. Finally, Imprint Wealth LLC lifted its position in shares of Wells Fargo & Company by 4,238.0% during the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock worth $428,490,000 after purchasing an additional 4,186,124 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Up 2.7 %

WFC traded up $1.56 on Thursday, hitting $58.74. The company had a trading volume of 24,419,770 shares, compared to its average volume of 18,721,676. The stock has a fifty day moving average price of $55.42 and a 200-day moving average price of $48.61. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $59.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $207.96 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.38%. Wells Fargo & Company’s payout ratio is 29.23%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.