Wells Fargo & Company (NYSE:WFC) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 31.7% in the fourth quarter, Holdings Channel reports. The firm owned 5,085,980 shares of the financial services provider’s stock after selling 2,364,299 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Wells Fargo & Company were worth $357,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Nordea Investment Management AB lifted its position in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Wells Fargo & Company by 6.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock valued at $389,707,000 after purchasing an additional 352,821 shares during the period. Finally, Korea Investment CORP raised its stake in shares of Wells Fargo & Company by 53.9% in the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after purchasing an additional 1,150,443 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Trading Down 2.2 %

Shares of Wells Fargo & Company stock opened at $70.71 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s 50-day moving average price is $75.84 and its 200 day moving average price is $70.03.

Wells Fargo & Company (NYSE:WFC) last released its 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 business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

About Wells Fargo & Company

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.