Continental Advisors LLC Has $5.84 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Continental Advisors LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,106 shares of the financial services provider's stock after selling 8,800 shares during the quarter. Wells Fargo & Company comprises about 2.7% of Continental Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Continental Advisors LLC's holdings in Wells Fargo & Company were worth $5,837,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WFC. Norges Bank bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $3,365,658,000. Dimensional Fund Advisors LP lifted its position in Wells Fargo & Company by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock valued at $1,430,742,000 after acquiring an additional 238,131 shares in the last quarter. Capital Research Global Investors boosted its stake in Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the last quarter. Capital World Investors boosted its stake in Wells Fargo & Company by 0.4% during the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock valued at $977,338,000 after purchasing an additional 62,099 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Wells Fargo & Company by 10.1% in the 4th 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 in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.16 during trading hours on Friday, reaching $69.72. The company's stock had a trading volume of 17,768,814 shares, compared to its average volume of 17,493,041. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year 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 market capitalization of $227.65 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02. The firm's 50-day moving average price is $70.23 and its 200-day moving average price is $71.34.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. Wells Fargo & Company's payout ratio is 28.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WFC shares. Truist Financial dropped their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Barclays dropped their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods upped 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 report on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $75.34.

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.