Tocqueville Asset Management L.P. Sells 3,520 Shares of Wells Fargo & Company (NYSE:WFC)

Tocqueville Asset Management L.P. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,315 shares of the financial services provider’s stock after selling 3,520 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Wells Fargo & Company were worth $10,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after acquiring an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after acquiring an additional 131,322 shares in the last quarter. Finally, Valmark Advisers Inc. raised its holdings in shares of Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 431 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.0 %

Wells Fargo & Company stock opened at $70.88 on Tuesday. 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 firm has a market cap of $233.07 billion, a PE ratio of 13.17, a P/E/G ratio of 1.18 and a beta of 1.16. The stock’s 50 day simple moving average is $75.87 and its two-hundred day simple moving average is $69.11. 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 Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price 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. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

About Wells Fargo & Company

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.