Compound Planning Inc. Cuts Stake in Wells Fargo & Company $WFC

Compound Planning Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,330 shares of the financial services provider’s stock after selling 5,957 shares during the period. Compound Planning Inc.’s holdings in Wells Fargo & Company were worth $3,131,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in WFC. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wells Fargo & Company by 19.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after buying an additional 84,902 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock worth $32,673,000 after buying an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after acquiring an additional 17,302 shares in the last quarter. Norges Bank bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $3,384,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WFC shares. Morgan Stanley increased their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Bank of America lifted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Robert W. Baird raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Truist Financial boosted their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Wells Fargo & Company Trading Up 0.2%

NYSE WFC opened at $86.39 on Friday. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average price is $82.72 and its 200-day moving average price is $83.51. The stock has a market cap of $264.37 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 26.16%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.