Wells Fargo & Company (NYSE:WFC) Holdings Lessened by Latash Investments LLC

Latash Investments LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,555,146 shares of the financial services provider’s stock after selling 37,575 shares during the period. Wells Fargo & Company accounts for approximately 85.2% of Latash Investments LLC’s investment portfolio, making the stock its biggest holding. Latash Investments LLC’s holdings in Wells Fargo & Company were worth $109,233,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Martingale Asset Management L P grew its stake in Wells Fargo & Company by 75.5% during the 3rd quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 3,269 shares in the last quarter. Benjamin Edwards Inc. grew its position in Wells Fargo & Company by 320.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 57,459 shares of the financial services provider’s stock valued at $3,246,000 after buying an additional 43,782 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Wells Fargo & Company by 46.0% in the third quarter. Hilltop Holdings Inc. now owns 18,376 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 5,788 shares during the period. Janus Henderson Group PLC grew its position in Wells Fargo & Company by 0.3% in the third quarter. Janus Henderson Group PLC now owns 441,872 shares of the financial services provider’s stock worth $24,950,000 after buying an additional 1,300 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Wells Fargo & Company by 1,447.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 689,085 shares of the financial services provider’s stock worth $38,926,000 after purchasing an additional 644,552 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America decreased their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup lowered their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Compass Point lifted 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. Finally, Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.55.

Wells Fargo & Company Stock Down 7.5 %

Shares of NYSE:WFC traded down $5.39 during trading on Thursday, reaching $66.87. 13,140,653 shares of the stock traded hands, compared to its average volume of 17,093,658. The stock has a market cap of $218.34 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock has a 50-day moving average of $75.50 and a two-hundred day moving average of $70.43. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week 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.

Wells Fargo & Company (NYSE:WFC) last announced its 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is currently 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.