Banco Bilbao Vizcaya Argentaria S.A. Cuts Stake in Wells Fargo & Company (NYSE:WFC)

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 686,636 shares of the financial services provider's stock after selling 31,839 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Wells Fargo & Company were worth $48,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $487,000. Tudor Financial Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter worth $468,000. Anchor Investment Management LLC raised its position in shares of Wells Fargo & Company by 5.5% in the third quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock valued at $898,000 after buying an additional 836 shares during the last quarter. World Investment Advisors LLC lifted its stake in shares of Wells Fargo & Company by 1,263.8% in the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider's stock worth $4,261,000 after buying an additional 69,901 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Wells Fargo & Company by 4.5% during the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider's stock worth $7,842,000 after acquiring an additional 5,946 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $67.91 on Thursday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market cap of $221.74 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock's 50-day moving average is $70.44 and its two-hundred day moving average is $71.26.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm's revenue was down 3.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Truist Financial dropped their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Piper Sandler cut their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citigroup reduced their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Raymond James cut their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $75.34.

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.

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