Wells Fargo & Company (NYSE:WFC) Shares Sold by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 361,557 shares of the financial services provider’s stock after selling 4,770 shares during the period. Wells Fargo & Company comprises approximately 2.0% of Schaper Benz & Wise Investment Counsel Inc. WI’s investment portfolio, making the stock its 12th biggest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Wells Fargo & Company were worth $25,396,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Axis Wealth Partners LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $454,000. United Community Bank boosted its holdings in Wells Fargo & Company by 5.2% during the fourth quarter. United Community Bank now owns 3,718 shares of the financial services provider’s stock worth $261,000 after buying an additional 183 shares in the last quarter. Oak Harbor Wealth Partners LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $220,000. Atlantic Union Bankshares Corp boosted its stake in Wells Fargo & Company by 10.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 196,584 shares of the financial services provider’s stock worth $13,808,000 after purchasing an additional 19,014 shares during the period. Finally, Naviter Wealth LLC boosted its stake in Wells Fargo & Company by 1.9% in the 4th quarter. Naviter Wealth LLC now owns 42,506 shares of the financial services provider’s stock worth $2,986,000 after purchasing an additional 775 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WFC. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 2.3 %

Wells Fargo & Company stock opened at $71.01 on Friday. The company has a market capitalization of $233.50 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s fifty day simple moving average is $76.10 and its 200-day simple moving average is $68.50. 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 has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company 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 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

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.