Wells Fargo & Company (NYSE:WFC) Stock Holdings Lessened by Baxter Bros Inc.

Baxter Bros Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,716 shares of the financial services provider's stock after selling 3,550 shares during the period. Wells Fargo & Company accounts for approximately 1.0% of Baxter Bros Inc.'s portfolio, making the stock its 26th largest holding. Baxter Bros Inc.'s holdings in Wells Fargo & Company were worth $7,706,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Potentia Wealth acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $1,553,000. Signature Estate & Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 33.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 8,692 shares of the financial services provider's stock worth $610,000 after purchasing an additional 2,177 shares during the last quarter. Syverson Strege & Co purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $207,000. First American Trust FSB acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $10,192,000. Finally, TIAA Trust National Association lifted its stake in shares of Wells Fargo & Company by 254.6% during the fourth quarter. TIAA Trust National Association now owns 312,750 shares of the financial services provider's stock valued at $21,968,000 after buying an additional 224,554 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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Wells Fargo & Company Stock Down 2.5 %

Shares of WFC traded down $1.82 during mid-day trading on Friday, reaching $70.46. 8,891,511 shares of the stock traded hands, compared to its average volume of 17,113,084. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month 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. The firm has a market cap of $230.05 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.18 and a beta of 1.16. The stock has a fifty day simple moving average of $75.97 and a 200 day simple moving average of $69.80.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.18.

Wells Fargo & 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.