BLB&B Advisors LLC Has $1.33 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

BLB&B Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,966 shares of the financial services provider’s stock after selling 1,207 shares during the quarter. BLB&B Advisors LLC’s holdings in Wells Fargo & Company were worth $1,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $35,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley upped their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 0.8 %

NYSE WFC opened at $80.76 on Friday. Wells Fargo & Company has a 52 week low of $47.47 and a 52 week high of $81.50. 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’s 50 day moving average price is $73.80 and its two-hundred day moving average price is $65.28. The stock has a market capitalization of $268.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.