Latash Investments LLC Has $109.23 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Latash Investments LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,555,146 shares of the financial services provider's stock after selling 37,575 shares during the period. Wells Fargo & Company comprises about 85.2% of Latash Investments LLC's investment portfolio, making the stock its largest position. Latash Investments LLC's holdings in Wells Fargo & Company were worth $109,233,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WFC. Pitcairn Co. raised its position in Wells Fargo & Company by 16.9% in the fourth quarter. Pitcairn Co. now owns 60,879 shares of the financial services provider's stock worth $4,276,000 after purchasing an additional 8,793 shares in the last quarter. Grant Private Wealth Management Inc bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $558,000. Selway Asset Management raised its holdings in shares of Wells Fargo & Company by 20.4% in the 4th quarter. Selway Asset Management now owns 37,800 shares of the financial services provider's stock worth $2,655,000 after buying an additional 6,400 shares in the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 271.6% during the 4th quarter. Arete Wealth Advisors LLC now owns 24,233 shares of the financial services provider's stock worth $1,673,000 after buying an additional 17,712 shares during the period. Finally, World Investment Advisors boosted its stake in Wells Fargo & Company by 7.3% in the 4th quarter. World Investment Advisors now owns 80,928 shares of the financial services provider's stock valued at $5,684,000 after buying an additional 5,496 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WFC shares. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average price target of $75.55.

Wells Fargo & Company Trading Down 9.2 %

WFC stock traded down $6.64 during midday trading on Thursday, reaching $65.62. The company's stock had a trading volume of 25,850,355 shares, compared to its average volume of 17,157,369. The business's 50-day simple moving average is $75.26 and its 200-day simple moving average is $70.40. The stock has a market cap of $214.27 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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%. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company's dividend payout ratio is 29.74%.

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.