Diametric Capital LP Sells 6,739 Shares of Wells Fargo & Company (NYSE:WFC)

Diametric Capital LP trimmed its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 32.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,751 shares of the financial services provider's stock after selling 6,739 shares during the quarter. Diametric Capital LP's holdings in Wells Fargo & Company were worth $966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Norges Bank acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $3,365,658,000. Nordea Investment Management AB increased its position in shares of Wells Fargo & Company by 10.1% in 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 acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% during 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 acquiring an additional 5,237,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Wells Fargo & Company by 6.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider's stock valued at $389,707,000 after acquiring an additional 352,821 shares during the period. Finally, Korea Investment CORP lifted its position in shares of Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock valued at $230,865,000 after acquiring an additional 1,150,443 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. 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 research note on Thursday, March 13th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & Company Stock Down 0.7 %

Shares of NYSE WFC traded down $0.52 during mid-day trading on Tuesday, reaching $71.27. 10,659,106 shares of the company traded hands, compared to its average volume of 17,129,811. The company's fifty day moving average is $75.60 and its two-hundred day moving average is $70.42. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market cap of $232.72 billion, a PE ratio of 13.25, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last 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. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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 of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.24%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 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.