Xcel Wealth Management LLC Sells 482 Shares of Wells Fargo & Company (NYSE:WFC)

Xcel Wealth Management LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,569 shares of the financial services provider’s stock after selling 482 shares during the quarter. Xcel Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,077,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Wells Fargo & Company by 37.2% in 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 buying an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp grew 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 buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC grew its stake 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 valued at $7,504,000 after buying an additional 18,717 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Wells Fargo & Company by 14.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after buying an additional 131,322 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $78.35 on Friday. The business has a fifty day simple moving average of $75.87 and a 200 day simple moving average of $67.75. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $260.87 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. 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 2.04%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.39.

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.