Temasek Holdings Private Ltd Acquires 116,404 Shares of Wells Fargo & Company $WFC

Temasek Holdings Private Ltd increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,085,923 shares of the financial services provider’s stock after buying an additional 116,404 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Wells Fargo & Company were worth $87,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter worth $31,000. Finally, Kilter Group LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $31,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. Barclays boosted their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $88.00 to $90.00 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $89.86 on Monday. The stock has a market capitalization of $282.08 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.93 and a beta of 1.11. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $91.11. The stock’s 50 day moving average price is $84.63 and its two-hundred day moving average price is $81.18. 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 earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Wells Fargo & Company Company Profile

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.