Wells Fargo & Company (NYSE:WFC) Holdings Cut by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 599,745 shares of the financial services provider's stock after selling 7,309 shares during the period. Wells Fargo & Company comprises about 7.8% of Wilsey Asset Management Inc.'s portfolio, making the stock its 3rd largest holding. Wilsey Asset Management Inc.'s holdings in Wells Fargo & Company were worth $42,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobsen Capital Management lifted its stake in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares in the last quarter. Quad Cities Investment Group LLC raised its stake in Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after purchasing an additional 158 shares during the last quarter. Investors Research Corp lifted its holdings in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group boosted its stake in Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after purchasing an additional 164 shares during the last quarter. Finally, Income Research & Management purchased a new position in shares of Wells Fargo & Company in the third quarter worth about $211,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised 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 note on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 2.0 %

Shares of WFC traded down $1.62 during mid-day trading on Monday, hitting $79.05. The company had a trading volume of 18,355,182 shares, compared to its average volume of 15,345,478. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50. The business's 50-day simple moving average is $73.89 and its 200-day simple moving average is $65.51. The stock has a market cap of $263.21 billion, a PE ratio of 14.69, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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 the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Wells Fargo & 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.