Norden Group LLC Has $3.83 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Norden Group LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 54,576 shares of the financial services provider’s stock after selling 5,943 shares during the quarter. Norden Group LLC’s holdings in Wells Fargo & Company were worth $3,833,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Focus Financial Network Inc. raised its position in shares of Wells Fargo & Company by 1.3% during the 3rd quarter. Focus Financial Network Inc. now owns 59,812 shares of the financial services provider’s stock valued at $3,379,000 after acquiring an additional 757 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in shares of Wells Fargo & Company by 259.6% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 34,403 shares of the financial services provider’s stock valued at $1,943,000 after acquiring an additional 24,835 shares during the last quarter. Americana Partners LLC raised its position in shares of Wells Fargo & Company by 6.1% during the 3rd quarter. Americana Partners LLC now owns 8,790 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 503 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in shares of Wells Fargo & Company by 0.7% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 57,035 shares of the financial services provider’s stock valued at $3,222,000 after acquiring an additional 402 shares during the last quarter. Finally, Creative Capital Management Investments LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $113,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on WFC. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. 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, the stock has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 2.3 %

Shares of NYSE:WFC opened at $78.35 on Friday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a market capitalization of $260.87 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a 50-day simple moving average of $75.87 and a 200 day simple moving average of $67.86. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current 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 paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

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.