Prudent Man Advisors LLC Has $1.28 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Prudent Man Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,256 shares of the financial services provider’s stock after selling 2,280 shares during the quarter. Prudent Man Advisors LLC’s holdings in Wells Fargo & Company were worth $1,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Metis Global Partners LLC lifted its stake in shares of Wells Fargo & Company by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider’s stock worth $12,105,000 after acquiring an additional 6,668 shares during the period. West Michigan Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $305,000. Fisher Asset Management LLC increased its holdings in Wells Fargo & Company by 20.0% in the fourth quarter. Fisher Asset Management LLC now owns 29,789 shares of the financial services provider’s stock worth $2,092,000 after purchasing an additional 4,956 shares in the last quarter. WR Wealth Planners LLC increased its holdings in Wells Fargo & Company by 15.3% in the fourth quarter. WR Wealth Planners LLC now owns 1,224 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 162 shares in the last quarter. Finally, Maripau Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $311,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WFC shares. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $78.35 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $260.87 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The stock’s 50-day simple moving average is $75.87 and its two-hundred day simple moving average is $67.75. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.