Slagle Financial LLC Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Slagle Financial LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,769 shares of the financial services provider’s stock after selling 818 shares during the period. Slagle Financial LLC’s holdings in Wells Fargo & Company were worth $335,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Rakuten Securities Inc. raised its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.6 %

Shares of WFC opened at $72.33 on Friday. The company’s 50-day moving average price is $75.97 and its 200 day moving average price is $69.80. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $236.17 billion, a P/E ratio of 13.44, 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 results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (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 net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial upped their price target 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 lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised 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. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.