Wells Fargo & Company (NYSE:WFC) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,663 shares of the financial services provider's stock after selling 7,922 shares during the quarter. Channing Capital Management LLC's holdings in Wells Fargo & Company were worth $10,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Two Sigma Advisers LP lifted its stake in shares of 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 purchasing an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after buying an additional 1,105,679 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock worth $111,914,000 after acquiring an additional 889,953 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Wells Fargo & Company by 63.1% in the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider's stock worth $137,832,000 after acquiring an additional 758,893 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

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Wells Fargo & Company Stock Performance

WFC stock traded up $1.89 during trading on Wednesday, hitting $69.17. 10,528,573 shares of the company traded hands, compared to its average volume of 16,607,404. The company has a market cap of $227.44 billion, a PE ratio of 12.85, a P/E/G ratio of 1.18 and a beta of 1.16. 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 simple moving average is $75.96 and its 200 day simple moving average is $68.74. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share 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. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Morgan Stanley lifted their price target 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. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.