Pzena Investment Management LLC reduced its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,824,242 shares of the financial services provider's stock after selling 1,797,975 shares during the period. Wells Fargo & Company makes up 3.4% of Pzena Investment Management LLC's investment portfolio, making the stock its 5th largest holding. Pzena Investment Management LLC owned about 0.42% of Wells Fargo & Company worth $971,015,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
WFC has been the subject of a number of research analyst reports. Compass Point increased their price target 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. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.39.
View Our Latest Stock Analysis on Wells Fargo & Company
Wells Fargo & Company Price Performance
WFC stock traded up $1.92 during mid-day trading on Wednesday, hitting $69.20. 10,528,573 shares of the stock were exchanged, compared to its average volume of 16,607,526. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average price of $75.96 and a 200 day moving average price of $68.74. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a market capitalization of $227.54 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.18 and a beta of 1.16.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company's revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.31%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.
About Wells Fargo & Company
(
Free Report)
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.
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