Wells Fargo & Company (NYSE:WFC) Shares Sold by FSB Premier Wealth Management Inc.

FSB Premier Wealth Management Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,958 shares of the financial services provider’s stock after selling 738 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $1,753,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WFC. Empowered Funds LLC increased its stake in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. raised its position in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 431 shares during the period. NatWest Group plc increased its holdings in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after acquiring an additional 63,102 shares during the period. Weiss Asset Management LP bought a new position in Wells Fargo & Company in the 3rd quarter worth approximately $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $1,656,000. 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 the company. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

WFC stock traded down $5.39 during midday trading on Thursday, hitting $66.87. The company’s stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. 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 company has a market cap of $218.34 billion, a PE ratio of 12.43, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm’s 50-day moving average is $75.50 and its 200-day moving average is $70.43.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wells Fargo & Company 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.