Nicolet Advisory Services LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Nicolet Advisory Services LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,099 shares of the financial services provider’s stock after purchasing an additional 627 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Wells Fargo & Company were worth $2,316,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $3,365,658,000. Nordea Investment Management AB grew its holdings 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 worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Wells Fargo & Company by 730.4% during the third 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock worth $389,707,000 after acquiring an additional 352,821 shares during the period. Finally, Korea Investment CORP lifted its stake in shares of Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after acquiring an additional 1,150,443 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 7.5 %

Shares of WFC traded down $5.39 on Thursday, reaching $66.87. The stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a 50-day simple moving average of $75.50 and a 200-day simple moving average of $70.43. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The firm has a market capitalization of $218.34 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley set a $79.00 price target on Wells Fargo & Company in a research report on Monday, March 24th. Bank of America lowered their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $75.55.

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.