Czech National Bank Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Czech National Bank raised its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 721,698 shares of the financial services provider’s stock after buying an additional 28,314 shares during the quarter. Czech National Bank’s holdings in Wells Fargo & Company were worth $50,692,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $70.01 on Monday. The stock has a market capitalization of $233.10 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.47 and a beta of 1.18. The company’s fifty day moving average price is $72.13 and its 200 day moving average price is $62.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Truist Financial initiated coverage on Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price objective for the company. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.