Alerus Financial NA Reduces Position in Wells Fargo & Company (NYSE:WFC)

Alerus Financial NA lowered its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,465 shares of the financial services provider's stock after selling 40,247 shares during the period. Alerus Financial NA's holdings in Wells Fargo & Company were worth $6,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp raised its stake in Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after buying an additional 26,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wells Fargo & Company by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock valued at $58,055,000 after buying an additional 131,322 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its stake in shares of Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after buying an additional 431 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo & Company Price Performance

WFC stock traded up $0.56 during mid-day trading on Monday, hitting $71.25. The company had a trading volume of 3,635,996 shares, compared to its average volume of 17,087,291. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month 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. The company has a 50-day moving average price of $75.84 and a 200 day moving average price of $70.14. The company has a market capitalization of $232.64 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. During the same quarter in the previous year, the business posted $0.86 earnings per share. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders 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 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Barclays upped 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, 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 target on the stock in a research note on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.97.

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.