Richard W. Paul & Associates LLC Sells 291 Shares of Wells Fargo & Company (NYSE:WFC)

Richard W. Paul & Associates LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,440 shares of the financial services provider’s stock after selling 291 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Wells Fargo & Company were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the fourth quarter worth about $35,000. Finally, BankPlus Trust Department purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $35,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WFC shares. Barclays lifted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 2.3 %

Wells Fargo & Company stock opened at $78.35 on Friday. The stock’s 50 day simple moving average is $75.87 and its two-hundred day simple moving average is $67.75. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market cap of $260.87 billion, a PE ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.