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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. O Shaughnessy Asset Management LLC raised its position in Wells Fargo & Company by 10.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,531,997 shares of the financial services provider’s stock valued at $107,607,000 after acquiring an additional 140,678 shares in the last quarter. Inkwell Capital LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $3,374,000. United Bank acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $236,000. Brandywine Global Investment Management LLC boosted its holdings in Wells Fargo & Company by 0.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 3,107,610 shares of the financial services provider’s stock worth $218,279,000 after buying an additional 18,214 shares in the last quarter. Finally, RWA Wealth Partners LLC increased its holdings in Wells Fargo & Company by 8.0% in the fourth quarter. RWA Wealth Partners LLC now owns 19,291 shares of the financial services provider’s stock valued at $1,355,000 after buying an additional 1,427 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $70.71 on Monday. The stock has a market cap of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a fifty day simple moving average of $75.84 and a 200-day simple moving average of $70.14. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target 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. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.97.

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.