Westhampton Capital LLC Sells 500 Shares of Wells Fargo & Company (NYSE:WFC)

Westhampton Capital LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 7.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,490 shares of the financial services provider’s stock after selling 500 shares during the quarter. Westhampton Capital LLC’s holdings in Wells Fargo & Company were worth $456,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. National Pension Service lifted its position in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares during the period. Nordea Investment Management AB raised its stake in Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP lifted its position in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new position in Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $78.41 on Thursday. The company has a market capitalization of $261.07 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.98. The stock has a fifty day simple moving average of $73.35 and a 200 day simple moving average of $64.38.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.