Wells Fargo & Company (NYSE:WFC) Shares Sold by Waterloo Capital L.P.

Waterloo Capital L.P. decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,028 shares of the financial services provider's stock after selling 5,428 shares during the period. Waterloo Capital L.P.'s holdings in Wells Fargo & Company were worth $3,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WFC. Spinnaker Trust boosted its stake in Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC raised its position in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after buying an additional 134 shares during the period. Crown Wealth Group LLC boosted its position in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management raised its position in Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after acquiring an additional 148 shares in the last quarter. Finally, New Republic Capital LLC lifted its holdings in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

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Wells Fargo & Company Trading Up 1.9 %

Shares of NYSE:WFC traded up $1.13 during midday trading on Monday, reaching $62.11. 41,270,103 shares of the company's stock were exchanged, compared to its average volume of 17,352,505. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. 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 firm's 50 day simple moving average is $74.93 and its two-hundred day simple moving average is $70.67. The stock has a market cap of $202.81 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast 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 issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. 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 objective for the company in a research report on Thursday, March 13th. 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 report on Thursday, January 16th. Bank of America cut their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Truist Financial decreased their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.55.

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.