Oddo BHF Asset Management Sas Raises Position in Wells Fargo & Company $WFC

Oddo BHF Asset Management Sas raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,498 shares of the financial services provider’s stock after purchasing an additional 7,764 shares during the period. Oddo BHF Asset Management Sas’ holdings in Wells Fargo & Company were worth $5,732,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $4,512,563,000. Capital Research Global Investors grew its stake in shares of Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Wells Fargo & Company by 13.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock worth $1,922,257,000 after purchasing an additional 2,369,260 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Wells Fargo & Company by 5.2% in the fourth quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock worth $895,466,000 after purchasing an additional 477,745 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $83.18 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average price is $79.61 and its 200-day moving average price is $84.65. Wells Fargo & Company has a 52 week low of $72.30 and a 52 week high of $97.76. The stock has a market cap of $254.56 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.98 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WFC. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, April 1st. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.