Wells Fargo & Company (NYSE:WFC) Stock Position Lowered by RWWM Inc.

RWWM Inc. reduced its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,897,727 shares of the financial services provider's stock after selling 292,792 shares during the quarter. Wells Fargo & Company accounts for approximately 12.2% of RWWM Inc.'s holdings, making the stock its 3rd largest holding. RWWM Inc. owned about 0.06% of Wells Fargo & Company worth $133,296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Entruity Wealth LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $932,000. Sagespring Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $1,408,000. Townsquare Capital LLC grew its stake in Wells Fargo & Company by 3.9% in the 4th quarter. Townsquare Capital LLC now owns 460,136 shares of the financial services provider's stock valued at $32,320,000 after buying an additional 17,092 shares during the last quarter. Crux Wealth Advisors bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $694,000. Finally, Nicolet Bankshares Inc. increased its holdings in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Nicolet Bankshares Inc. now owns 14,898 shares of the financial services provider's stock worth $1,046,000 after purchasing an additional 770 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock 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 stock a "buy" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Finally, Piper Sandler upped 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 note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.97.

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Wells Fargo & Company Stock Down 2.2 %

NYSE WFC traded down $1.57 during trading on Friday, hitting $70.71. The company's stock had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. The company has a market cap of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business's 50 day simple moving average is $75.84 and its 200-day simple moving average is $70.03. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for 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 company's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

About Wells Fargo & Company

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.