Gulf International Bank UK Ltd Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Gulf International Bank UK Ltd cut its position in Wells Fargo & Company (NYSE:WFC) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,907 shares of the financial services provider’s stock after selling 5,820 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Wells Fargo & Company were worth $19,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $35,000. Finally, BankPlus Trust Department bought a new position in Wells Fargo & Company in the fourth quarter valued at about $35,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. 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, The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Up 0.5 %

Shares of Wells Fargo & Company stock opened at $76.39 on Thursday. 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 12-month low of $50.15 and a 12-month high of $81.50. The company has a fifty day simple moving average of $75.55 and a 200-day simple moving average of $67.51. The stock has a market cap of $254.34 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.