Keel Point LLC Boosts Stake in Wells Fargo & Company (NYSE:WFC)

Keel Point LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,381 shares of the financial services provider’s stock after purchasing an additional 1,067 shares during the period. Keel Point LLC’s holdings in Wells Fargo & Company were worth $413,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WFC. Norges Bank bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $2,049,693,000. Moneta Group Investment Advisors LLC lifted its holdings in Wells Fargo & Company by 129,312.1% in 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 acquiring an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Wells Fargo & Company by 1,478.6% in the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after acquiring an additional 7,859,100 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Wells Fargo & Company in the first quarter worth about $345,861,000. Finally, Imprint Wealth LLC lifted its holdings in Wells Fargo & Company by 4,238.0% in the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock worth $428,490,000 after acquiring an additional 4,186,124 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $56.87 on Tuesday. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. 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 firm has a market capitalization of $201.34 billion, a PE ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 1.19. The company’s 50 day simple moving average is $55.08 and its 200 day simple moving average is $48.44.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 4.68 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.46%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFC. Evercore ISI raised their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Piper Sandler cut their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Finally, Citigroup restated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $58.85.

About Wells Fargo & Company

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.