Mount Lucas Management LP Trims Stake in Wells Fargo & Company (NYSE:WFC)

Mount Lucas Management LP lowered its stake in Wells Fargo & Company (NYSE:WFC) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,825 shares of the financial services provider’s stock after selling 957 shares during the quarter. Mount Lucas Management LP’s holdings in Wells Fargo & Company were worth $1,182,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WFC. Spinnaker Trust lifted its holdings in shares of Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 130 shares during the last quarter. MONECO Advisors LLC boosted its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after buying an additional 134 shares during the period. Crown Wealth Group LLC grew its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after buying an additional 140 shares in the last quarter. Jacobsen Capital Management raised its holdings in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC lifted its stake in Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.3 %

NYSE WFC opened at $71.01 on Monday. The firm’s fifty day moving average price is $76.10 and its 200 day moving average price is $68.59. 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 company has a market capitalization of $233.50 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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 (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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup increased their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial boosted their target price 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus 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.