Headlands Technologies LLC Has $4.16 Million Stake in Wells Fargo & Company (NYSE:WFC)

Headlands Technologies LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 59,180 shares of the financial services provider’s stock after purchasing an additional 766 shares during the quarter. Headlands Technologies LLC’s holdings in Wells Fargo & Company were worth $4,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. PFC Capital Group Inc. raised its position in shares of Wells Fargo & Company by 56.3% during the fourth quarter. PFC Capital Group Inc. now owns 5,550 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 2,000 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Wells Fargo & Company by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 62,626 shares of the financial services provider’s stock valued at $4,399,000 after purchasing an additional 1,119 shares during the period. Seven Mile Advisory raised its holdings in Wells Fargo & Company by 6.9% during the 4th quarter. Seven Mile Advisory now owns 6,636 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 430 shares during the last quarter. Cannell & Spears LLC lifted its position in shares of Wells Fargo & Company by 4.0% in the 4th quarter. Cannell & Spears LLC now owns 12,272 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 472 shares during the period. Finally, Summit Financial LLC lifted its position in shares of Wells Fargo & Company by 5.6% in the 4th quarter. Summit Financial LLC now owns 24,029 shares of the financial services provider’s stock worth $1,688,000 after purchasing an additional 1,275 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Finally, Citigroup lowered their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Stock Performance

WFC opened at $71.85 on Tuesday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market cap of $234.59 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16. The company’s fifty day moving average price is $75.73 and its two-hundred day moving average price is $70.29. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Wells Fargo & Company’s dividend payout ratio is presently 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.