Sciencast Management LP Sells 37,510 Shares of Wells Fargo & Company (NYSE:WFC)

Sciencast Management LP reduced its position in Wells Fargo & Company (NYSE:WFC) by 75.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,471 shares of the financial services provider’s stock after selling 37,510 shares during the period. Sciencast Management LP’s holdings in Wells Fargo & Company were worth $876,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Spinnaker Trust lifted its stake in Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its stake in Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 134 shares in the last quarter. Crown Wealth Group LLC lifted its stake in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 140 shares in the last quarter. Jacobsen Capital Management lifted its stake in Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 148 shares in the last quarter. Finally, New Republic Capital LLC lifted its stake in Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 149 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.0 %

WFC stock opened at $72.51 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $238.43 billion, a PE ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a 50-day simple moving average of $75.95 and a two-hundred day simple moving average of $69.42.

Wells Fargo & Company (NYSE:WFC) last posted its 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. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced 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 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Ratings Changes

WFC has been the topic of several recent analyst reports. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.