Wells Fargo & Company (NYSE:WFC) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 62.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,183 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Wells Fargo & Company were worth $83,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WFC. Nordea Investment Management AB boosted its stake in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Wells Fargo & Company by 14.1% in the 4th quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider’s stock valued at $156,602,000 after purchasing an additional 274,886 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Wells Fargo & Company by 81.6% during the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after acquiring an additional 889,953 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $72.79 on Thursday. The business has a 50-day simple moving average of $75.88 and a 200-day simple moving average of $69.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a market cap of $239.35 billion, a PE ratio of 13.53, a P/E/G ratio of 1.18 and a beta of 1.16.

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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on 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. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $74.39.

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.