Amalgamated Bank Has $44.80 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Amalgamated Bank lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 637,777 shares of the financial services provider’s stock after selling 36,429 shares during the quarter. Amalgamated Bank’s holdings in Wells Fargo & Company were worth $44,797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WFC. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Wells Fargo & Company during the fourth quarter worth $35,000. Finally, BankPlus Trust Department bought a new stake in Wells Fargo & Company during the fourth quarter worth $35,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $77.10 on Tuesday. The business has a 50-day moving average of $75.30 and a 200 day moving average of $67.28. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a market capitalization of $256.72 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

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.