Wells Fargo & Company (NYSE:WFC) Stock Position Decreased by Gradient Capital Advisors LLC

Gradient Capital Advisors LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,126 shares of the financial services provider’s stock after selling 152 shares during the period. Gradient Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $290,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its stake in Wells Fargo & Company by 31.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock worth $350,000 after buying an additional 1,493 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Wells Fargo & Company by 133.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,495 shares of the financial services provider’s stock valued at $197,000 after buying an additional 2,000 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company during the third quarter valued at $81,000. Iams Wealth Management LLC grew its position in shares of Wells Fargo & Company by 8.8% during the third quarter. Iams Wealth Management LLC now owns 35,145 shares of the financial services provider’s stock worth $1,985,000 after acquiring an additional 2,835 shares during the last quarter. Finally, PFG Advisors increased its holdings in shares of Wells Fargo & Company by 3.6% in the 3rd quarter. PFG Advisors now owns 101,761 shares of the financial services provider’s stock worth $5,748,000 after acquiring an additional 3,536 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.7 %

Shares of NYSE:WFC opened at $79.66 on Wednesday. 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 has a market capitalization of $265.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50. The company has a 50 day moving average price of $73.97 and a 200 day moving average price of $65.64.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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 yield of 2.01%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WFC shares. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective 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. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” 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.com, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

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.