L. Roy Papp & Associates LLP Decreases Stake in Wells Fargo & Company (NYSE:WFC)

L. Roy Papp & Associates LLP lessened its stake in Wells Fargo & Company (NYSE:WFC) by 28.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,637 shares of the financial services provider’s stock after selling 4,281 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Wells Fargo & Company were worth $747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Leavell Investment Management Inc. increased its holdings in Wells Fargo & Company by 8.4% in the fourth quarter. Leavell Investment Management Inc. now owns 23,132 shares of the financial services provider’s stock valued at $1,625,000 after buying an additional 1,790 shares in the last quarter. Portfolio Design Labs LLC grew its holdings in shares of Wells Fargo & Company by 21.0% in the 4th quarter. Portfolio Design Labs LLC now owns 68,158 shares of the financial services provider’s stock worth $4,787,000 after acquiring an additional 11,844 shares during the period. New Republic Capital LLC increased its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 149 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $133,000. Finally, Mill Creek Capital Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth $217,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $79.66 on Wednesday. The company has a market cap of $265.23 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The firm’s 50 day moving average is $73.97 and its two-hundred day moving average is $65.64. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WFC. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.39.

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.