Lowe Brockenbrough & Co. Inc. Has $3.98 Million Position in Wells Fargo & Company (NYSE:WFC)

Lowe Brockenbrough & Co. Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,613 shares of the financial services provider’s stock after selling 422 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Wells Fargo & Company were worth $3,976,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $26,000. Rakuten Securities Inc. lifted its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WFC shares. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Compass Point lifted their price objective 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, Truist Financial lifted their price objective 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. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Price Performance

WFC stock opened at $72.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 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 firm has a market cap of $238.38 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. The company’s 50-day moving average price is $75.90 and its two-hundred day moving average price is $69.24.

Wells Fargo & Company (NYSE:WFC) last released its 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 firm 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 business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. 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.