Wells Fargo & Company (NYSE:WFC) Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,636 shares of the financial services provider’s stock after selling 147 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Wells Fargo & Company were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Dynamic Advisor Solutions LLC increased its holdings in Wells Fargo & Company by 5.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 35,704 shares of the financial services provider’s stock valued at $2,017,000 after purchasing an additional 1,965 shares during the last quarter. Abner Herrman & Brock LLC boosted its holdings in shares of Wells Fargo & Company by 96.1% in the third quarter. Abner Herrman & Brock LLC now owns 139,950 shares of the financial services provider’s stock valued at $7,906,000 after acquiring an additional 68,600 shares during the period. Hexagon Capital Partners LLC grew its position in Wells Fargo & Company by 11.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 17,512 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 1,748 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in Wells Fargo & Company by 6.0% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 14,330 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 807 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Wells Fargo & Company by 3.6% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 337,833 shares of the financial services provider’s stock worth $19,084,000 after purchasing an additional 11,682 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $81.45 on Friday. The firm’s 50-day simple moving average is $73.72 and its 200 day simple moving average is $65.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $271.18 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WFC. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.