Wells Fargo & Company (NYSE:WFC) Shares Sold by MONECO Advisors LLC

MONECO Advisors LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,790 shares of the financial services provider’s stock after selling 583 shares during the quarter. MONECO Advisors LLC’s holdings in Wells Fargo & Company were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.3 %

Shares of NYSE WFC opened at $59.50 on Thursday. The business’s fifty day simple moving average is $57.38 and its 200-day simple moving average is $50.03. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $210.65 billion, a P/E ratio of 12.42, a PEG ratio of 1.15 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.35%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analyst Ratings Changes

A number of analysts have issued reports on WFC shares. Piper Sandler cut their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.