Triangle Securities Wealth Management Sells 630 Shares of Wells Fargo & Company (NYSE:WFC)

Triangle Securities Wealth Management lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,061 shares of the financial services provider’s stock after selling 630 shares during the period. Triangle Securities Wealth Management’s holdings in Wells Fargo & Company were worth $2,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after buying an additional 162,066 shares during the period. Nordea Investment Management AB boosted its stake in Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $160,529,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods boosted 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 report on Thursday. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $77.22 on Friday. The stock has a market capitalization of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The stock has a 50 day moving average price of $72.74 and a 200 day moving average price of $63.44.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion for 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% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal 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 paid 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 2.07%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

About Wells Fargo & Company

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.