Wells Fargo & Company (NYSE:WFC) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,426 shares of the financial services provider’s stock after selling 500 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Wells Fargo & Company were worth $345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WFC shares. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.8 %

Wells Fargo & Company stock opened at $80.76 on Monday. Wells Fargo & Company has a 52-week low of $47.47 and a 52-week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $268.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.22 and a beta of 1.18. The firm has a 50-day moving average price of $73.89 and a two-hundred day moving average price of $65.47.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & 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.