Wells Fargo & Company (NYSE:WFC) Shares Sold by Capital Management Associates Inc

Capital Management Associates Inc lowered its position in Wells Fargo & Company (NYSE:WFC) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,568 shares of the financial services provider’s stock after selling 531 shares during the quarter. Capital Management Associates Inc’s holdings in Wells Fargo & Company were worth $251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the third quarter worth about $34,000. Finally, FSA Wealth Management LLC acquired a new position in Wells Fargo & Company during the third quarter valued at $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $80.76 on Friday. Wells Fargo & Company has a 1-year low of $47.47 and a 1-year high of $81.50. The company has a market cap of $268.89 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.19 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. The company has a 50 day moving average of $73.80 and a 200-day moving average of $65.28.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for 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 firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & 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.