Wells Fargo & Company (NYSE:WFC) Shares Sold by Foster Group Inc.

Foster Group Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,422 shares of the financial services provider’s stock after selling 3,740 shares during the period. Foster Group Inc.’s holdings in Wells Fargo & Company were worth $2,769,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.99 on Wednesday. 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 company has a market capitalization of $259.66 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.17 and a beta of 1.18. The business’s 50-day moving average is $73.26 and its 200-day moving average is $64.23. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30.

Wells Fargo & Company (NYSE:WFC) last released 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. Wells Fargo & Company’s payout ratio is presently 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.