Wells Fargo & Company (NYSE:WFC) Shares Sold by Tradewinds LLC.

Tradewinds LLC. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,570 shares of the financial services provider’s stock after selling 204 shares during the period. Tradewinds LLC.’s holdings in Wells Fargo & Company were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Rakuten Securities Inc. grew its position in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFC. Keefe, Bruyette & Woods upped 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 report on Thursday, January 16th. Truist Financial upped their price target on 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 set a $79.00 target price on shares of Wells Fargo & Company in a research report on Monday, March 24th. 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. Finally, Compass Point boosted 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 report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

Shares of NYSE:WFC traded down $5.39 during trading on Thursday, reaching $66.87. 13,140,653 shares of the stock traded hands, compared to its average volume of 17,093,658. The stock has a 50-day moving average of $75.50 and a two-hundred day moving average of $70.43. The stock has a market cap of $218.34 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. 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 has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s 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.