Federated Hermes Inc. Purchases 7,729 Shares of Wells Fargo & Company (NYSE:WFC)

Federated Hermes Inc. increased its position in Wells Fargo & Company (NYSE:WFC) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 916,382 shares of the financial services provider’s stock after acquiring an additional 7,729 shares during the period. Federated Hermes Inc.’s holdings in Wells Fargo & Company were worth $45,104,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $2,049,693,000. Northern Trust Corp increased its holdings in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after buying an additional 26,267,166 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Wells Fargo & Company by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WFC shares. Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Raymond James lifted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Barclays upped their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

Shares of Wells Fargo & Company stock opened at $60.36 on Friday. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.85. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $55.88 and a 200-day moving average price of $48.82. The firm has a market cap of $213.68 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.14 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating 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 company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. 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.