United Capital Financial Advisors LLC Reduces Position in Wells Fargo & Company (NYSE:WFC)

United Capital Financial Advisors LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,455 shares of the financial services provider’s stock after selling 5,813 shares during the period. United Capital Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $14,501,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 2.4 %

Wells Fargo & Company stock opened at $64.58 on Wednesday. The firm has a market capitalization of $210.87 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock’s fifty day simple moving average is $72.15 and its 200-day simple moving average is $70.97.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to analysts’ expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. 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 company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.73%.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Piper Sandler dropped their price target on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James lowered their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research report on Monday. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Truist Financial cut their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.34.

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.