Skba Capital Management LLC Sells 29,400 Shares of Wells Fargo & Company (NYSE:WFC)

Skba Capital Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,050 shares of the financial services provider's stock after selling 29,400 shares during the quarter. Skba Capital Management LLC's holdings in Wells Fargo & Company were worth $9,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its position in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the period. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.7 %

Shares of NYSE WFC traded down $0.52 during trading hours on Tuesday, hitting $71.27. The company had a trading volume of 10,659,106 shares, compared to its average volume of 17,105,642. 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 firm's 50 day moving average is $75.73 and its 200-day moving average is $70.29. The stock has a market capitalization of $232.72 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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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 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 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 .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WFC shares. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their price objective 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. Barclays boosted their target price on 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 boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus price target of $74.97.

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.