Greatmark Investment Partners Inc. Sells 1,625 Shares of Wells Fargo & Company (NYSE:WFC)

Greatmark Investment Partners Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 8.9% in the 4th quarter, Holdings Channel reports. The firm owned 16,648 shares of the financial services provider’s stock after selling 1,625 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Wells Fargo & Company were worth $1,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $70.96 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s fifty day moving average price is $75.89 and its two-hundred day moving average price is $68.84. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm 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 for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share 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. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.39.

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.