Wells Fargo & Company (NYSE:WFC) Shares Sold by ING Groep NV

ING Groep NV lessened its stake in Wells Fargo & Company (NYSE:WFC) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,279 shares of the financial services provider’s stock after selling 21,076 shares during the period. ING Groep NV’s holdings in Wells Fargo & Company were worth $7,886,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several recent analyst reports. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group boosted 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. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on 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 boosted 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $77.43 on Friday. 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 stock’s 50 day moving average price is $75.20 and its 200 day moving average price is $66.90. The firm has a market cap of $257.81 billion, a P/E ratio of 14.39, a PEG ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter 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, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio 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.