Chevy Chase Trust Holdings LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Chevy Chase Trust Holdings LLC boosted its holdings in Wells Fargo & Company (NYSE:WFCGet Rating) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,323,480 shares of the financial services provider’s stock after purchasing an additional 27,076 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Wells Fargo & Company worth $93,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Price T Rowe Associates Inc. MD increased its stake in Wells Fargo & Company by 23.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 87,369,282 shares of the financial services provider’s stock valued at $3,422,255,000 after buying an additional 16,552,773 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Wells Fargo & Company by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock valued at $1,061,357,000 after acquiring an additional 64,080 shares during the last quarter. Pzena Investment Management LLC grew its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 17,335,603 shares of the financial services provider’s stock valued at $697,238,000 after acquiring an additional 342,324 shares during the last quarter. Barclays PLC grew its stake in Wells Fargo & Company by 3.2% in the 3rd quarter. Barclays PLC now owns 11,997,825 shares of the financial services provider’s stock valued at $482,548,000 after acquiring an additional 373,560 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in Wells Fargo & Company by 22.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 8,767,496 shares of the financial services provider’s stock valued at $343,423,000 after acquiring an additional 1,630,459 shares during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Wells Fargo & Company Stock Down 1.3 %

WFC opened at $44.45 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30. The firm has a 50 day moving average price of $43.60 and a 200 day moving average price of $43.69. The company has a market cap of $169.38 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The company had revenue of $19.66 billion during the quarter, compared to the consensus estimate of $20.04 billion. During the same quarter last year, the company earned $1.38 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 5.7% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.70%. Wells Fargo & Company’s dividend payout ratio (DPR) is 38.22%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. BMO Capital Markets upped their target price on shares of Wells Fargo & Company from $61.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 17th. Cfra upgraded shares of Wells Fargo & Company to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, January 13th. The Goldman Sachs Group upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $48.00 in a report on Monday, October 3rd. Finally, Piper Sandler lowered shares of Wells Fargo & Company from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $49.00 to $47.00 in a report on Tuesday, January 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.62.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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