Federated Hermes Inc. Has $45.10 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Federated Hermes Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 916,382 shares of the financial services provider’s stock after purchasing an additional 7,729 shares during the period. Federated Hermes Inc.’s holdings in Wells Fargo & Company were worth $45,104,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. First Financial Corp IN lifted its holdings in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional lifted its stake in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares during the period. ERTS Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares in the last quarter. Prio Wealth Limited Partnership grew its stake in Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after buying an additional 244 shares during the period. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $60.36 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a 50-day moving average of $55.88 and a 200-day moving average of $48.82. Wells Fargo & Company has a one year low of $36.40 and a one year high of $60.85. The company has a market cap of $213.68 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.14 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

About Wells Fargo & Company

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.