Bright Futures Wealth Management LLC. Sells 616 Shares of Wells Fargo & Company (NYSE:WFC)

Bright Futures Wealth Management LLC. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,627 shares of the financial services provider’s stock after selling 616 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Wells Fargo & Company were worth $185,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $228,000. Walkner Condon Financial Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $246,000. Bogart Wealth LLC grew its holdings in Wells Fargo & Company by 24.4% during the 4th quarter. Bogart Wealth LLC now owns 1,117 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 219 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in Wells Fargo & Company by 6.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 10,901 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 620 shares during the last quarter. Finally, Sunburst Financial Group LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $228,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $78.76 on Friday. The company has a 50 day moving average price of $74.20 and a 200-day moving average price of $65.87. Wells Fargo & Company has a fifty-two week low of $47.96 and a fifty-two week high of $81.50. The stock has a market capitalization of $262.23 billion, a PE ratio of 14.64, a PEG ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 2.03%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.