Deseret Mutual Benefit Administrators Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Deseret Mutual Benefit Administrators decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,982 shares of the financial services provider’s stock after selling 441 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Wells Fargo & Company were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $77.43 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month 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 has a market capitalization of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The business’s fifty day moving average price is $75.20 and its 200 day moving average price is $66.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 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. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.39.

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.