Dimensional Fund Advisors LP Buys 238,131 Shares of Wells Fargo & Company (NYSE:WFC)

Dimensional Fund Advisors LP grew its position in Wells Fargo & Company (NYSE:WFC) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,369,222 shares of the financial services provider’s stock after purchasing an additional 238,131 shares during the quarter. Wells Fargo & Company makes up about 0.3% of Dimensional Fund Advisors LP’s portfolio, making the stock its 25th largest position. Dimensional Fund Advisors LP’s holdings in Wells Fargo & Company were worth $1,430,742,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $3,365,658,000. Nordea Investment Management AB increased its position in shares of 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Wells Fargo & Company by 6.9% during the fourth 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 buying an additional 352,821 shares during the last quarter. FIL Ltd lifted its stake in Wells Fargo & Company by 2.6% in the fourth quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider’s stock valued at $290,710,000 after purchasing an additional 104,136 shares during the last quarter. Finally, Korea Investment CORP grew its stake in shares of Wells Fargo & Company by 53.9% during 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. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.0 %

NYSE:WFC opened at $64.63 on Friday. The company has a market cap of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $71.05. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 28.73%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler cut their price target on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Truist Financial cut their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Raymond James lowered their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.34.

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.