Transcend Capital Advisors LLC Has $3.48 Million Position in Wells Fargo & Company (NYSE:WFC)

Transcend Capital Advisors LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,559 shares of the financial services provider’s stock after selling 2,418 shares during the period. Transcend Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $3,481,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $35,000. Finally, Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group increased 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. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Down 2.1 %

WFC opened at $78.69 on Friday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. 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 firm’s fifty day moving average price is $75.06 and its two-hundred day moving average price is $66.73. The company has a market capitalization of $262.00 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.20 and a beta of 1.18.

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 for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. Wells Fargo & Company’s payout ratio is presently 29.74%.

About Wells Fargo & Company

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.