Edmond DE Rothschild Holding S.A. Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Edmond DE Rothschild Holding S.A. reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 22.1% in the fourth quarter, HoldingsChannel reports. The fund owned 254,379 shares of the financial services provider’s stock after selling 71,968 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Wells Fargo & Company were worth $17,868,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.97.

Wells Fargo & Company Stock Down 2.2 %

WFC opened at $70.71 on Monday. The firm’s 50 day simple moving average is $75.84 and its two-hundred day simple moving average is $70.14. The company has a market capitalization of $230.87 billion, a PE ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year 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.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.