Wells Fargo & Company (NYSE:WFC) Shares Sold by United Services Automobile Association

United Services Automobile Association lowered its stake in Wells Fargo & Company (NYSE:WFC) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 78,455 shares of the financial services provider’s stock after selling 1,518 shares during the quarter. United Services Automobile Association’s holdings in Wells Fargo & Company were worth $5,511,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. lifted its stake in Wells Fargo & Company by 10.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 169,501 shares of the financial services provider’s stock valued at $9,575,000 after buying an additional 15,411 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $504,000. Nwam LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $309,000. Stonebrook Private Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $214,000. Finally, Great Valley Advisor Group Inc. raised its stake in Wells Fargo & Company by 2.1% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WFC shares. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $72.51 on Monday. The company’s 50 day simple moving average is $75.95 and its 200-day simple moving average is $69.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a market capitalization of $238.43 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & Company 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.