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

Detalus Advisors LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,400 shares of the financial services provider’s stock after selling 200 shares during the period. Detalus Advisors LLC’s holdings in Wells Fargo & Company were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mission Wealth Management LP raised its holdings in shares of Wells Fargo & Company by 4.7% during the fourth quarter. Mission Wealth Management LP now owns 85,679 shares of the financial services provider’s stock valued at $6,018,000 after acquiring an additional 3,813 shares during the period. Auxano Advisors LLC increased its stake in Wells Fargo & Company by 4.4% in the 4th quarter. Auxano Advisors LLC now owns 7,950 shares of the financial services provider’s stock valued at $558,000 after buying an additional 334 shares during the period. Grandfield & Dodd LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $204,000. Fidelis Capital Partners LLC increased its stake in Wells Fargo & Company by 32.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 32,464 shares of the financial services provider’s stock valued at $2,280,000 after buying an additional 7,979 shares during the period. Finally, Quintet Private Bank Europe S.A. acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $48,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WFC shares. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $78.35 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a fifty day moving average price of $75.87 and a two-hundred day moving average price of $67.96. The company has a market cap of $257.63 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue was down .5% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 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.