Wedge Capital Management L L P NC Sells 122,238 Shares of Wells Fargo & Company (NYSE:WFC)

Wedge Capital Management L L P NC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,510 shares of the financial services provider’s stock after selling 122,238 shares during the period. Wedge Capital Management L L P NC’s holdings in Wells Fargo & Company were worth $39,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Quad Cities Investment Group LLC increased its stake in Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp lifted its position in shares of Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after buying an additional 160 shares during the period. Ellenbecker Investment Group boosted its stake in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares in the last quarter. Income Research & Management bought a new position in shares of Wells Fargo & Company during the third quarter valued at $211,000. Finally, Modera Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% during the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE:WFC opened at $77.22 on Friday. The company has a 50 day moving average price of $72.60 and a two-hundred day moving average price of $63.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $257.11 billion, a PE ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued 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. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WFC shares. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Twelve 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, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & Company 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.