Polianta Ltd Lowers Stock Position in Wells Fargo & Company (NYSE:WFC)

Polianta Ltd decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,600 shares of the financial services provider’s stock after selling 2,200 shares during the quarter. Polianta Ltd’s holdings in Wells Fargo & Company were worth $1,236,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quad Cities Investment Group LLC raised its holdings in shares of 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 buying an additional 158 shares during the last quarter. Investors Research Corp lifted its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares during the period. Ellenbecker Investment Group increased 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 during the period. Income Research & Management purchased a new position in Wells Fargo & Company during the 3rd quarter worth $211,000. Finally, Modera Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WFC. Truist Financial raised 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 report on Thursday. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $77.22 on Friday. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The firm has a 50 day simple moving average of $72.74 and a 200-day simple moving average of $63.44. The firm has a market cap of $257.11 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

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 the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.