Allspring Global Investments Holdings LLC Acquires 126,045 Shares of Wells Fargo & Company (NYSE:WFC)

Allspring Global Investments Holdings LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 367,184 shares of the financial services provider’s stock after acquiring an additional 126,045 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wells Fargo & Company were worth $18,073,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WFC. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the third quarter valued at about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the first quarter worth about $28,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI raised their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Barclays increased their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.37.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $56.47 on Monday. The firm has a market capitalization of $199.93 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $58.44. The business has a 50 day simple moving average of $54.92 and a 200-day simple moving average of $48.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 4.68 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Company Profile

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.