Tradewinds LLC. Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

Tradewinds LLC. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,570 shares of the financial services provider’s stock after selling 204 shares during the period. Tradewinds LLC.’s holdings in Wells Fargo & Company were worth $602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC grew its holdings in Wells Fargo & Company by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 62,626 shares of the financial services provider’s stock valued at $4,399,000 after purchasing an additional 1,119 shares during the period. Seven Mile Advisory grew its stake in shares of Wells Fargo & Company by 6.9% during the 4th quarter. Seven Mile Advisory now owns 6,636 shares of the financial services provider’s stock valued at $466,000 after buying an additional 430 shares during the period. Cannell & Spears LLC increased its holdings in shares of Wells Fargo & Company by 4.0% during the 4th quarter. Cannell & Spears LLC now owns 12,272 shares of the financial services provider’s stock worth $862,000 after buying an additional 472 shares during the last quarter. Summit Financial LLC raised its position in shares of Wells Fargo & Company by 5.6% in the 4th quarter. Summit Financial LLC now owns 24,029 shares of the financial services provider’s stock worth $1,688,000 after buying an additional 1,275 shares during the period. Finally, Hoey Investments Inc. boosted its holdings in Wells Fargo & Company by 13.7% in the fourth quarter. Hoey Investments Inc. now owns 163,216 shares of the financial services provider’s stock valued at $11,464,000 after acquiring an additional 19,620 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.6 %

Shares of NYSE WFC opened at $71.85 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $75.73 and its two-hundred day moving average price is $70.29. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market capitalization of $234.59 billion, a P/E ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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 return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup dropped their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $74.97.

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.