WealthShield Partners LLC Has $528,000 Stake in Wells Fargo & Company (NYSE:WFC)

WealthShield Partners LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 23.1% in the fourth quarter, Holdings Channel reports. The fund owned 7,512 shares of the financial services provider’s stock after selling 2,251 shares during the quarter. WealthShield Partners LLC’s holdings in Wells Fargo & Company were worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at $35,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $29,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays upped 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. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price 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. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven 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, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

NYSE WFC opened at $77.10 on Tuesday. The stock has a market capitalization of $256.72 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18. The business has a 50 day simple moving average of $75.30 and a 200 day simple moving average of $67.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year 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, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during 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 company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

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.