NBW Capital LLC Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

NBW Capital LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,676 shares of the financial services provider’s stock after selling 158 shares during the quarter. Wells Fargo & Company accounts for about 1.4% of NBW Capital LLC’s portfolio, making the stock its 28th largest position. NBW Capital LLC’s holdings in Wells Fargo & Company were worth $7,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Bedel Financial Consulting Inc. increased its position in shares of Wells Fargo & Company by 13.7% during the fourth quarter. Bedel Financial Consulting Inc. now owns 8,897 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 1,070 shares during the period. Scratch Capital LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at $302,000. Meridian Wealth Management LLC increased its holdings in Wells Fargo & Company by 2.0% in the fourth quarter. Meridian Wealth Management LLC now owns 9,105 shares of the financial services provider’s stock valued at $640,000 after buying an additional 176 shares during the last quarter. Mission Wealth Management LP increased its holdings in Wells Fargo & Company by 4.7% in the fourth quarter. Mission Wealth Management LP now owns 85,679 shares of the financial services provider’s stock valued at $6,018,000 after buying an additional 3,813 shares during the last quarter. Finally, Auxano Advisors LLC increased its holdings in Wells Fargo & Company by 4.4% in the fourth quarter. Auxano Advisors LLC now owns 7,950 shares of the financial services provider’s stock valued at $558,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $76.96 on Tuesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a market capitalization of $253.06 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The firm has a 50-day simple moving average of $76.00 and a 200-day simple moving average of $68.11. 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 Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.39.

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.