Venturi Wealth Management LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Venturi Wealth Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 166.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,388 shares of the financial services provider's stock after acquiring an additional 4,615 shares during the period. Venturi Wealth Management LLC's holdings in Wells Fargo & Company were worth $519,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WFC. National Pension Service grew its position in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after purchasing an additional 162,066 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after buying an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new position in shares of Wells Fargo & Company during the third quarter valued at $160,529,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on WFC. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Eleven research 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.com, Wells Fargo & Company has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 2.1 %

Shares of WFC traded down $1.66 during trading hours on Thursday, hitting $78.69. The company had a trading volume of 14,800,325 shares, compared to its average volume of 15,174,527. The company has a market capitalization of $262.00 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. The company's fifty day moving average price is $74.90 and its two-hundred day moving average price is $66.64. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) 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.