Tealwood Asset Management Inc. Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Tealwood Asset Management Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,790 shares of the financial services provider’s stock after selling 2,174 shares during the period. Tealwood Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,531,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WFC. Traveka Wealth LLC raised its holdings in Wells Fargo & Company by 23.1% during the fourth quarter. Traveka Wealth LLC now owns 4,895 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 920 shares in the last quarter. PFW Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $775,000. Signet Financial Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.4% in the 4th quarter. Signet Financial Management LLC now owns 56,916 shares of the financial services provider’s stock valued at $3,998,000 after buying an additional 230 shares during the period. Miracle Mile Advisors LLC grew its holdings in Wells Fargo & Company by 66.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 35,166 shares of the financial services provider’s stock worth $2,470,000 after acquiring an additional 13,981 shares during the period. Finally, Sunflower Bank N.A. raised its position in Wells Fargo & Company by 8.1% in the fourth quarter. Sunflower Bank N.A. now owns 7,309 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 547 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WFC shares. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.92.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, 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 SEC, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Stock Up 0.9 %

WFC opened at $70.59 on Tuesday. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The business has a 50-day moving average of $72.27 and a two-hundred day moving average of $63.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $235.03 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

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.