Wells Fargo & Company (NYSE:WFC) Shares Sold by Diametric Capital LP

Diametric Capital LP trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 32.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,751 shares of the financial services provider’s stock after selling 6,739 shares during the period. Diametric Capital LP’s holdings in Wells Fargo & Company were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $30,000. Rakuten Securities Inc. increased its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after buying an additional 237 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $5.39 during trading on Thursday, hitting $66.87. The company had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50 day simple moving average of $75.50 and a 200 day simple moving average of $70.43. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization 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.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a research report on Monday, March 24th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. 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 report on Thursday, January 16th. Finally, Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.55.

Wells Fargo & Company 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.