Focus Financial Network Inc. Sells 6,687 Shares of Wells Fargo & Company (NYSE:WFC)

Focus Financial Network Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,125 shares of the financial services provider’s stock after selling 6,687 shares during the period. Focus Financial Network Inc.’s holdings in Wells Fargo & Company were worth $3,731,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Income Research & Management purchased a new position in Wells Fargo & Company during the third quarter valued at $211,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $35,000. Finally, Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 2.0 %

NYSE:WFC opened at $79.05 on Tuesday. Wells Fargo & Company has a one year low of $47.59 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $263.21 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.22 and a beta of 1.18. The firm has a 50-day simple moving average of $73.89 and a 200-day simple moving average of $65.51.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

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.