Great Lakes Advisors LLC Sells 59,746 Shares of Wells Fargo & Company (NYSE:WFC)

Great Lakes Advisors LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,252,909 shares of the financial services provider's stock after selling 59,746 shares during the quarter. Wells Fargo & Company comprises approximately 1.4% of Great Lakes Advisors LLC's holdings, making the stock its 8th largest position. Great Lakes Advisors LLC owned about 0.07% of Wells Fargo & Company worth $158,244,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on WFC shares. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Hold" and a consensus price target of $73.39.

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Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $67.33 on Wednesday. The firm's 50-day moving average price is $75.96 and its 200-day moving average price is $68.74. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a market capitalization of $221.40 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

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.

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