Wells Fargo & Company (NYSE:WFC) is Twin City Private Wealth LLC's 3rd Largest Position

Twin City Private Wealth LLC trimmed its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,062 shares of the financial services provider's stock after selling 4,849 shares during the period. Wells Fargo & Company makes up approximately 2.9% of Twin City Private Wealth LLC's portfolio, making the stock its 3rd biggest holding. Twin City Private Wealth LLC's holdings in Wells Fargo & Company were worth $3,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.0 %

Shares of NYSE WFC traded down $0.01 on Tuesday, reaching $74.27. 9,499,112 shares of the company's stock traded hands, compared to its average volume of 16,422,289. The business's 50 day simple moving average is $76.09 and its two-hundred day simple moving average is $69.76. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market cap of $244.21 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 business 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 quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research 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 announced 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 of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Truist Financial increased 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. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.18.

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.