Wells Fargo & Company $WFC Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its stake in Wells Fargo & Company (NYSE:WFC) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,674,246 shares of the financial services provider’s stock after purchasing an additional 129,254 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.05% of Wells Fargo & Company worth $134,141,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFC. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the period. Nwam LLC raised its holdings in Wells Fargo & Company by 1.6% during the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 142 shares in the last quarter. AMG National Trust Bank raised its holdings in Wells Fargo & Company by 28.7% during the first quarter. AMG National Trust Bank now owns 16,925 shares of the financial services provider’s stock worth $1,215,000 after purchasing an additional 3,771 shares in the last quarter. Fountainhead AM LLC lifted its position in Wells Fargo & Company by 21.4% in the first quarter. Fountainhead AM LLC now owns 4,159 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 733 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its holdings in Wells Fargo & Company by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 116,946 shares of the financial services provider’s stock valued at $8,396,000 after purchasing an additional 18,247 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Citigroup upped their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Up 0.3%

Wells Fargo & Company stock opened at $84.98 on Monday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.64. The firm has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The stock’s fifty day moving average is $83.71 and its two-hundred day moving average is $79.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

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.