Wells Fargo & Company (NYSE:WFC) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 51,038 shares of the financial services provider’s stock after selling 938 shares during the period. FineMark National Bank & Trust’s holdings in Wells Fargo & Company were worth $3,585,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the last quarter. Teacher Retirement System of Texas increased its position in Wells Fargo & Company by 14.1% during the 4th quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider’s stock worth $156,602,000 after purchasing an additional 274,886 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after purchasing an additional 889,953 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC opened at $74.27 on Wednesday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a 50-day moving average price of $76.09 and a 200 day moving average price of $69.76. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $244.21 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. 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 report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

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.