Hillsdale Investment Management Inc. Has $103,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Hillsdale Investment Management Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 72.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,462 shares of the financial services provider's stock after selling 3,800 shares during the period. Hillsdale Investment Management Inc.'s holdings in Wells Fargo & Company were worth $103,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WFC. Empowered Funds LLC raised its stake in Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wells Fargo & Company by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock worth $58,055,000 after acquiring an additional 131,322 shares during the period. Finally, Valmark Advisers Inc. grew its stake in Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after acquiring an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WFC shares. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $74.18.

Wells Fargo & Company Price Performance

NYSE WFC traded down $0.35 on Thursday, hitting $73.13. 2,875,829 shares of the company were exchanged, compared to its average volume of 16,333,491. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a 50 day moving average of $76.04 and a two-hundred day moving average of $69.79. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $238.76 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.18 and a beta of 1.16.

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 firm 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%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is 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.