Allspring Global Investments Holdings LLC Boosts Position in Wells Fargo & Company (NYSE:WFC)

Allspring Global Investments Holdings LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 52.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 367,184 shares of the financial services provider’s stock after acquiring an additional 126,045 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wells Fargo & Company were worth $18,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the period. Studio Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $56.47 on Monday. The firm has a market capitalization of $199.93 billion, a PE ratio of 11.79, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The business has a 50-day moving average of $54.92 and a two-hundred day moving average of $48.32. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44.

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 analysts’ consensus estimates 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 business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 4.68 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley boosted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.37.

Wells Fargo & Company 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.