Wells Fargo & Company (NYSE:WFC) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC reduced its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,873 shares of the financial services provider's stock after selling 8,000 shares during the quarter. Easterly Investment Partners LLC's holdings in Wells Fargo & Company were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Wells Fargo & Company by 21.8% during the third quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider's stock valued at $346,000 after purchasing an additional 1,097 shares during the period. Fisher Asset Management LLC increased its stake in Wells Fargo & Company by 13.8% during the 3rd quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider's stock worth $1,403,000 after buying an additional 3,016 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Wells Fargo & Company in the 3rd quarter worth $256,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Wells Fargo & Company by 44.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 9,544 shares of the financial services provider's stock valued at $540,000 after acquiring an additional 2,940 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Wells Fargo & Company Stock Performance

WFC stock traded down $1.57 during mid-day trading on Friday, reaching $70.71. The company had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market capitalization of $230.87 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. 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 stock's 50-day simple moving average is $75.84 and its two-hundred day simple moving average is $70.03.

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. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFC. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $74.97.

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.