Wells Fargo & Company (NYSE:WFC) Stake Lessened by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,819 shares of the financial services provider’s stock after selling 179 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $900,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. National Pension Service grew its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares during the period. Nordea Investment Management AB grew its position in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% in 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 buying an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $160,529,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $77.43 on Monday. The company has a market capitalization of $257.81 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18. The company has a 50-day moving average of $75.20 and a 200-day moving average of $67.11. 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 released its quarterly earnings data 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a 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 company a “neutral” rating in a research note on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus 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.