Kerrisdale Advisers LLC Has $1.36 Million Position in Wells Fargo & Company (NYSE:WFC)

Kerrisdale Advisers LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 30.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,346 shares of the financial services provider's stock after selling 8,350 shares during the period. Kerrisdale Advisers LLC's holdings in Wells Fargo & Company were worth $1,359,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 2.5 %

Wells Fargo & Company stock opened at $67.91 on Thursday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a market cap of $221.74 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.18 and a beta of 1.02. The company's 50-day moving average price is $70.44 and its two-hundred day moving average price is $71.26. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same period last year, the firm posted $1.20 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts expect 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. Investors 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 yield of 2.36%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is 28.73%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFC. Keefe, Bruyette & Woods upped their price target on shares of 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. Barclays lowered their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Truist Financial reduced their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler reduced their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $75.34.

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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