Wells Fargo & Company (NYSE:WFC) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,248 shares of the financial services provider’s stock after selling 541 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Wells Fargo & Company were worth $509,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing 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% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in shares of Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 26,320 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after buying an additional 18,717 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 worth $58,055,000 after acquiring an additional 131,322 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 2.3 %

Shares of WFC stock opened at $71.01 on Monday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business’s fifty day moving average is $76.10 and its 200-day moving average is $68.59. The stock has a market cap of $233.50 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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, beating 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 analysts’ expectations of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 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.