Wells Fargo & Company (NYSE:WFC) Shares Sold by Lodestar Private Asset Management LLC

Lodestar Private Asset Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 11.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,358 shares of the financial services provider’s stock after selling 1,824 shares during the period. Lodestar Private Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,009,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Jacobsen Capital Management boosted its position in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares during the last quarter. Quad Cities Investment Group LLC lifted its stake in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp boosted its holdings in Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 160 shares during the last quarter. Ellenbecker Investment Group increased its position in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the period. Finally, Income Research & Management bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $211,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.7 %

WFC opened at $81.45 on Friday. The company has a market cap of $271.18 billion, a P/E ratio of 15.14, a PEG ratio of 1.19 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $73.72 and its 200-day moving average is $65.16. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFC shares. Compass Point boosted their price target 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. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective 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. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.39.

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.