Wedmont Private Capital Has $11.41 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Wedmont Private Capital grew its stake in Wells Fargo & Company (NYSE:WFC) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 163,093 shares of the financial services provider’s stock after acquiring an additional 2,608 shares during the period. Wells Fargo & Company accounts for 0.6% of Wedmont Private Capital’s holdings, making the stock its 28th largest position. Wedmont Private Capital’s holdings in Wells Fargo & Company were worth $11,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Synovus Financial Corp grew its position in shares of Wells Fargo & Company by 32.2% during the 3rd quarter. Synovus Financial Corp now owns 99,049 shares of the financial services provider’s stock worth $5,595,000 after buying an additional 24,126 shares during the period. Cardinal Capital Management Inc. grew its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares during the period. Finally, Chartwell Investment Partners LLC boosted its position in shares of Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.08 on Monday, reaching $70.04. The stock had a trading volume of 5,053,355 shares, compared to its average volume of 11,767,382. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $233.20 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The firm has a fifty day moving average of $72.13 and a two-hundred day moving average of $62.97. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the firm earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Analysts Set New Price Targets

Several research firms have weighed in on WFC. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial assumed coverage on Wells Fargo & Company in a research report on Tuesday, January 7th. They set a “buy” rating and a $82.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Profile

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.