Virtu Financial LLC Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Virtu Financial LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,930 shares of the financial services provider’s stock, valued at approximately $1,892,000.

Several other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Two Sigma Advisers LP grew its position in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Teacher Retirement System of Texas grew its position in Wells Fargo & Company by 14.1% during the 4th quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider’s stock valued at $156,602,000 after purchasing an additional 274,886 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after acquiring an additional 889,953 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $72.51 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market capitalization of $238.43 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s 50 day simple moving average is $75.95 and its two-hundred day simple moving average is $69.42.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research 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. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a 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 target price of $74.39.

Wells Fargo & 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.