Folger Nolan Fleming Douglas Capital Management Inc. Has $5.37 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,415 shares of the financial services provider's stock after selling 4,686 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Wells Fargo & Company were worth $5,367,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Income Research & Management bought a new position in Wells Fargo & Company in the third quarter valued at about $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the second quarter valued at approximately $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WFC shares. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE:WFC traded up $1.27 during midday trading on Friday, hitting $77.22. The stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. The business's 50-day simple moving average is $72.74 and its 200-day simple moving average is $63.46. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The company has a market cap of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company's revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's payout ratio is presently 29.74%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.