Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Aviance Capital Partners LLC

Aviance Capital Partners LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 48.5% during the 4th quarter, HoldingsChannel reports. The firm owned 5,516 shares of the financial services provider’s stock after selling 5,200 shares during the quarter. Aviance Capital Partners LLC’s holdings in Wells Fargo & Company were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oak Hill Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $331,000. Bradyco Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $400,000. Edgestream Partners L.P. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $1,219,000. BBR Partners LLC grew its holdings in shares of Wells Fargo & Company by 0.9% during the 4th quarter. BBR Partners LLC now owns 17,568 shares of the financial services provider’s stock valued at $1,234,000 after acquiring an additional 163 shares in the last quarter. Finally, Destination Wealth Management grew its holdings in shares of Wells Fargo & Company by 85.6% during the 4th quarter. Destination Wealth Management now owns 8,931 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 4,118 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 2.3 %

Wells Fargo & Company stock opened at $71.01 on Friday. The firm has a fifty day moving average price of $76.10 and a two-hundred day moving average price of $68.41. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week 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 cap of $233.50 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted 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 net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WFC shares. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays boosted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Piper Sandler lifted their price objective 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.