Wells Fargo & Company (NYSE:WFC) Shares Sold by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 28.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,753 shares of the financial services provider’s stock after selling 1,088 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Wells Fargo & Company were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WFC. Norges Bank acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $3,365,658,000. Artisan Partners Limited Partnership acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $117,026,000. KLP Kapitalforvaltning AS purchased a new position in Wells Fargo & Company in the 4th quarter valued at $85,031,000. Korea Investment CORP increased its stake in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after buying an additional 1,150,443 shares during the period. Finally, Artemis Investment Management LLP raised 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 buying an additional 1,105,679 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WFC shares. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Citigroup cut their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Raymond James decreased their price target on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research note on Monday. Truist Financial cut their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Finally, Piper Sandler decreased their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $63.98 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market cap of $208.90 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The business’s fifty day moving average price is $71.82 and its two-hundred day moving average price is $70.93. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders 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 yield of 2.50%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

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.