Wells Fargo & Company (NYSE:WFC) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,014 shares of the financial services provider’s stock after selling 1,753 shares during the quarter. Stonegate Investment Group LLC’s holdings in Wells Fargo & Company were worth $1,822,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cordant Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $139,000. Welch Group LLC raised its stake in Wells Fargo & Company by 11.4% during the fourth quarter. Welch Group LLC now owns 14,666 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 1,503 shares during the period. Builder Investment Group Inc. ADV acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $210,000. Monte Financial Group LLC grew its stake in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Monte Financial Group LLC now owns 148,063 shares of the financial services provider’s stock valued at $7,288,000 after buying an additional 408 shares during the period. Finally, Prio Wealth Limited Partnership raised its position in shares of Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

Shares of Wells Fargo & Company stock opened at $57.36 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44. The company has a market capitalization of $203.08 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.20 and a beta of 1.19. The company has a 50 day moving average of $53.77 and a 200 day moving average of $47.47.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. Wells Fargo & Company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s payout ratio is currently 29.05%.

Analyst Ratings Changes

Several research firms have issued reports on WFC. Compass Point raised their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Barclays increased their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.68.

Get Our Latest Stock Report on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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