Lountzis Asset Management LLC Lowers Stake in Wells Fargo & Company (NYSE:WFC)

Lountzis Asset Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,799 shares of the financial services provider’s stock after selling 1,243 shares during the quarter. Wells Fargo & Company accounts for about 7.5% of Lountzis Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Lountzis Asset Management LLC’s holdings in Wells Fargo & Company were worth $17,686,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WFC. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the third quarter worth approximately $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the third quarter valued at about $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.38 on Thursday. 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 has a 1-year low of $50.15 and a 1-year high of $81.50. The business has a 50 day simple moving average of $74.90 and a two-hundred day simple moving average of $66.64. The stock has a market capitalization of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted 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. The company 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%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.99%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point increased 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. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

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.