Catalyst Capital Advisors LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Catalyst Capital Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 48.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,451 shares of the financial services provider’s stock after selling 1,373 shares during the period. Catalyst Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. grew its position in Wells Fargo & Company by 0.8% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 28,011 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 230 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new position in Wells Fargo & Company in the 4th quarter valued at $239,000. Americana Partners LLC grew its position in Wells Fargo & Company by 762.2% in the 4th quarter. Americana Partners LLC now owns 75,791 shares of the financial services provider’s stock valued at $5,324,000 after buying an additional 67,001 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at $1,656,000. Finally, Capital Performance Advisors LLP grew its position in Wells Fargo & Company by 146.4% in the 4th quarter. Capital Performance Advisors LLP now owns 4,346 shares of the financial services provider’s stock valued at $305,000 after buying an additional 2,582 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.9 %

Wells Fargo & Company stock opened at $80.71 on Wednesday. The stock has a market cap of $268.72 billion, a PE ratio of 15.00, a P/E/G ratio of 1.22 and a beta of 1.18. The stock has a 50-day moving average price of $74.55 and a 200 day moving average price of $66.35. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report 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 report on Tuesday, December 3rd. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company 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.