Wells Fargo & Company (NYSE:WFC) Position Reduced by Wealth Alliance

Wealth Alliance trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,688 shares of the financial services provider’s stock after selling 513 shares during the quarter. Wealth Alliance’s holdings in Wells Fargo & Company were worth $751,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WFC. Foundations Investment Advisors LLC boosted its stake in Wells Fargo & Company by 5.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 21,483 shares of the financial services provider’s stock valued at $1,214,000 after acquiring an additional 1,179 shares during the last quarter. Eastern Bank acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $790,000. Monte Financial Group LLC raised its holdings in shares of Wells Fargo & Company by 1.8% during the third quarter. Monte Financial Group LLC now owns 126,937 shares of the financial services provider’s stock worth $7,171,000 after purchasing an additional 2,230 shares during the period. Great Lakes Retirement Inc. raised its holdings in shares of Wells Fargo & Company by 35.9% during the third quarter. Great Lakes Retirement Inc. now owns 30,991 shares of the financial services provider’s stock worth $1,751,000 after purchasing an additional 8,187 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in shares of Wells Fargo & Company by 7.6% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 6,427 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 455 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 2.1 %

Shares of Wells Fargo & Company stock opened at $78.69 on Friday. The business has a fifty day simple moving average of $75.06 and a 200-day simple moving average of $66.73. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a market cap of $262.00 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company earned $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.