Investors Research Corp Sells 3,975 Shares of Wells Fargo & Company (NYSE:WFC)

Investors Research Corp cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 29.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,486 shares of the financial services provider's stock after selling 3,975 shares during the period. Investors Research Corp's holdings in Wells Fargo & Company were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Wells Fargo & Company by 19.1% in the fourth 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 in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after purchasing an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in shares of Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock valued at $7,504,000 after purchasing an additional 18,717 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock valued at $58,055,000 after purchasing an additional 131,322 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 2.3 %

Shares of WFC stock opened at $71.01 on Monday. 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 stock has a market cap of $233.50 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock has a 50 day simple moving average of $76.10 and a 200 day simple moving average of $68.59. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly 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 analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.74%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. UBS Group lifted 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. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of "Hold" and a consensus target price of $73.39.

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.

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