Wells Fargo & Company (NYSE:WFC) Stake Lowered by Bremer Bank National Association

Bremer Bank National Association cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,830 shares of the financial services provider’s stock after selling 187 shares during the quarter. Bremer Bank National Association’s holdings in Wells Fargo & Company were worth $690,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.22 on Monday. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The stock has a fifty day moving average of $72.74 and a 200-day moving average of $63.46. The company has a market capitalization of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent analyst reports. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, 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 report on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.39.

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.