Wells Fargo & Company (NYSE:WFC) Shares Sold by NBW Capital LLC

NBW Capital LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,009 shares of the financial services provider’s stock after selling 382 shares during the period. NBW Capital LLC’s holdings in Wells Fargo & Company were worth $5,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stoneridge Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 54,262 shares during the period. United Services Automobile Association increased its stake in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,499,000. Finally, Golden State Equity Partners increased its stake in shares of Wells Fargo & Company by 98.8% during the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after purchasing an additional 30,316 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 2.6 %

Shares of NYSE WFC traded up $1.50 during trading on Thursday, hitting $58.68. 14,384,685 shares of the company traded hands, compared to its average volume of 18,628,781. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $59.13. The company has a 50-day moving average price of $55.42 and a 200-day moving average price of $48.61. The firm has a market capitalization of $207.75 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. Wells Fargo & Company’s payout ratio is 29.23%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Jefferies Financial Group raised their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Piper Sandler lowered their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.