Westmount Partners LLC Has $2.20 Million Stake in Wells Fargo & Company (NYSE:WFC)

Westmount Partners LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,352 shares of the financial services provider’s stock after selling 295 shares during the quarter. Westmount Partners LLC’s holdings in Wells Fargo & Company were worth $2,202,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Brookstone Capital Management raised its holdings in shares of Wells Fargo & Company by 10.8% in the 4th quarter. Brookstone Capital Management now owns 17,676 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 1,726 shares during the period. Fiduciary Alliance LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $1,522,000. Czech National Bank increased its stake in shares of Wells Fargo & Company by 4.1% in the fourth quarter. Czech National Bank now owns 721,698 shares of the financial services provider’s stock worth $50,692,000 after purchasing an additional 28,314 shares in the last quarter. West Oak Capital LLC lifted its stake in shares of Wells Fargo & Company by 696.4% during the 4th quarter. West Oak Capital LLC now owns 108,511 shares of the financial services provider’s stock valued at $7,622,000 after buying an additional 94,886 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its holdings in Wells Fargo & Company by 1.3% during the 4th quarter. Highline Wealth Partners LLC now owns 13,659 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Stock Up 0.2 %

Shares of WFC stock traded up $0.15 during trading hours on Monday, reaching $70.11. 4,835,882 shares of the company’s stock were exchanged, compared to its average volume of 11,729,695. The stock has a market cap of $233.43 billion, a PE ratio of 14.58, a PEG ratio of 1.47 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average price is $72.13 and its two-hundred day moving average price is $62.97. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company posted $1.39 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

A number of research firms have recently commented on WFC. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays raised their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial began coverage on Wells Fargo & Company in a research report on Tuesday, January 7th. They issued a “buy” rating and a $82.00 target price for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.