Kanawha Capital Management LLC Sells 835 Shares of Wells Fargo & Company (NYSE:WFC)

Kanawha Capital Management LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,514 shares of the financial services provider’s stock after selling 835 shares during the period. Kanawha Capital Management LLC’s holdings in Wells Fargo & Company were worth $949,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Income Research & Management bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $211,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WFC shares. Morgan Stanley increased their price target 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. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial increased 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. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler increased their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.6 %

Shares of NYSE:WFC opened at $78.76 on Friday. Wells Fargo & Company has a 52 week low of $47.96 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company 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 50 day moving average price of $74.20 and a two-hundred day moving average price of $65.87.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.