SteelPeak Wealth LLC Sells 1,128 Shares of Wells Fargo & Company (NYSE:WFC)

SteelPeak Wealth LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,195 shares of the financial services provider’s stock after selling 1,128 shares during the period. SteelPeak Wealth LLC’s holdings in Wells Fargo & Company were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Income Research & Management bought a new stake in Wells Fargo & Company in the 3rd quarter valued at $211,000. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter worth about $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.89 on Friday. The stock has a 50-day moving average price of $73.45 and a two-hundred day moving average price of $64.48. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.24. The company has a market capitalization of $262.67 billion, a PE ratio of 14.66, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

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.