Oldfather Financial Services LLC Has $4.19 Million Stake in Wells Fargo & Company (NYSE:WFC)

Oldfather Financial Services LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,605 shares of the financial services provider's stock after selling 4,971 shares during the quarter. Wells Fargo & Company accounts for about 1.6% of Oldfather Financial Services LLC's holdings, making the stock its 15th biggest position. Oldfather Financial Services LLC's holdings in Wells Fargo & Company were worth $4,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FOCUS Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $1,567,000. Ironwood Financial llc acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $221,000. Scott Capital Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $203,000. Diversify Wealth Management LLC increased its holdings in Wells Fargo & Company by 33.9% during the 4th quarter. Diversify Wealth Management LLC now owns 31,350 shares of the financial services provider's stock valued at $2,193,000 after acquiring an additional 7,945 shares in the last quarter. Finally, Eldred Rock Partners LLC lifted its holdings in shares of Wells Fargo & Company by 0.3% in the fourth quarter. Eldred Rock Partners LLC now owns 151,919 shares of the financial services provider's stock valued at $10,681,000 after purchasing an additional 478 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded up $1.27 during midday trading on Monday, hitting $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. The stock's 50 day simple moving average is $72.74 and its 200 day simple moving average is $63.48. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The stock has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The firm 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 12.25% and a net margin of 14.43%. The business's revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's payout ratio is 33.26%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and boosted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Piper Sandler lifted their price target on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & 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.