Wells Fargo & Company (NYSE:WFC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 45.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 727,055 shares of the financial services provider’s stock after selling 612,003 shares during the quarter. ProShare Advisors LLC’s holdings in Wells Fargo & Company were worth $51,068,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Quantinno Capital Management LP grew its position in Wells Fargo & Company by 37.0% in the fourth quarter. Quantinno Capital Management LP now owns 298,600 shares of the financial services provider’s stock valued at $20,974,000 after acquiring an additional 80,662 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Wells Fargo & Company by 3.9% during the 4th quarter. Pathstone Holdings LLC now owns 369,024 shares of the financial services provider’s stock valued at $25,933,000 after buying an additional 13,782 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $3,874,000. Nearwater Capital Markets Ltd purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $37,578,000. Finally, NorthRock Partners LLC boosted its stake in shares of Wells Fargo & Company by 182.1% during the 4th quarter. NorthRock Partners LLC now owns 74,753 shares of the financial services provider’s stock valued at $5,251,000 after buying an additional 48,254 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $75.50 on Friday. 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 stock has a market capitalization of $245.69 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock’s fifty day moving average is $69.42 and its two-hundred day moving average is $72.41.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for 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%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company’s payout ratio is 28.73%.

Wells Fargo & Company announced that its board has initiated a share repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Morgan Stanley increased their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Truist Financial reduced their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.73.

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.