Wells Fargo & Company (NYSE:WFC) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,054 shares of the financial services provider’s stock after selling 741 shares during the period. Blue Barn Wealth LLC’s holdings in Wells Fargo & Company were worth $355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its position in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the period. Artemis Investment Management LLP grew its position in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Public Sector Pension Investment Board grew its position in Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after purchasing an additional 889,953 shares during the last quarter. Finally, KBC Group NV increased its stake in Wells Fargo & Company by 63.1% in the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after purchasing an additional 758,893 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WFC. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler upped 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. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $74.20 on Thursday. The firm has a market capitalization of $243.97 billion, a PE ratio of 13.79, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm’s 50-day simple moving average is $76.08 and its 200 day simple moving average is $68.28. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 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.