West Family Investments Inc. Has $738,000 Position in Wells Fargo & Company (NYSE:WFC)

West Family Investments Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,511 shares of the financial services provider’s stock after selling 147 shares during the period. West Family Investments Inc.’s holdings in Wells Fargo & Company were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Spinnaker Trust increased its holdings in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after buying an additional 130 shares during the last quarter. MONECO Advisors LLC increased its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC increased its holdings in Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after buying an additional 140 shares during the last quarter. Jacobsen Capital Management increased its holdings in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after buying an additional 148 shares during the last quarter. Finally, New Republic Capital LLC increased its holdings in Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WFC shares. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 2.1 %

NYSE:WFC opened at $72.59 on Friday. The business’s 50-day simple moving average is $76.10 and its 200-day simple moving average is $68.31. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market capitalization of $238.68 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.86 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.