Fort Sheridan Advisors LLC Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Fort Sheridan Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,980 shares of the financial services provider’s stock after selling 775 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Wells Fargo & Company were worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the third quarter valued at about $29,000. 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 shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the 3rd quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial boosted their price target 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. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group upped their price objective 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. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Up 0.2 %

Shares of NYSE WFC opened at $76.61 on Friday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a market capitalization of $255.06 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50-day moving average of $75.71 and a two-hundred day moving average of $67.57.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.