Sciencast Management LP Sells 37,510 Shares of Wells Fargo & Company (NYSE:WFC)

Sciencast Management LP lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 75.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,471 shares of the financial services provider’s stock after selling 37,510 shares during the quarter. Sciencast Management LP’s holdings in Wells Fargo & Company were worth $876,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its position in shares of Wells Fargo & Company by 126.7% during 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 during the last quarter. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Price Performance

WFC opened at $72.51 on Friday. 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 has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market capitalization of $238.43 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock’s 50 day moving average price is $75.95 and its 200-day moving average price is $69.42.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company’s payout ratio is 29.74%.

About Wells Fargo & Company

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.