RWWM Inc. Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

RWWM Inc. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 13.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,897,727 shares of the financial services provider’s stock after selling 292,792 shares during the quarter. Wells Fargo & Company comprises approximately 12.2% of RWWM Inc.’s portfolio, making the stock its 3rd biggest position. RWWM Inc. owned about 0.06% of Wells Fargo & Company worth $133,296,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Entruity Wealth LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $932,000. Sagespring Wealth Partners LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $1,408,000. Townsquare Capital LLC boosted its position in Wells Fargo & Company by 3.9% in the fourth quarter. Townsquare Capital LLC now owns 460,136 shares of the financial services provider’s stock worth $32,320,000 after purchasing an additional 17,092 shares during the last quarter. Crux Wealth Advisors bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $694,000. Finally, Nicolet Bankshares Inc. increased its position in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Nicolet Bankshares Inc. now owns 14,898 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research reports. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday. Keefe, Bruyette & Woods boosted their price objective 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. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Truist Financial raised 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. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $74.27 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $244.21 billion, a PE ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The business has a 50 day simple moving average of $76.09 and a two-hundred day simple moving average of $69.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS 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 given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.