Wrapmanager Inc. Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Wrapmanager Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,391 shares of the financial services provider’s stock after selling 1,453 shares during the quarter. Wrapmanager Inc.’s holdings in Wells Fargo & Company were worth $2,275,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent research reports. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley boosted 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 note on Thursday, January 16th. 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. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

NYSE WFC opened at $77.10 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $75.30 and a 200-day moving average price of $67.28. The company has a market cap of $256.72 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced 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 return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

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.