Affinity Capital Advisors LLC Sells 273 Shares of Wells Fargo & Company (NYSE:WFC)

Affinity Capital Advisors LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 6.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,160 shares of the financial services provider’s stock after selling 273 shares during the period. Affinity Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quad Cities Investment Group LLC boosted its holdings in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after buying an additional 158 shares in the last quarter. Ignite Planners LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $255,000. Hummer Financial Advisory Services Inc bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $220,000. MRA Advisory Group bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $219,000. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $312,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $71.07 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $236.63 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The company has a 50 day moving average price of $72.41 and a 200-day moving average price of $63.15. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WFC shares. Truist Financial started coverage on shares of Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 target price for the company. Barclays lifted their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Compass Point lifted their target price 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. UBS Group lifted their target price 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. Finally, Piper Sandler lifted their target price 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. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.92.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.