Wells Fargo & Company (NYSE:WFC) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,038 shares of the financial services provider’s stock after selling 432 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Wells Fargo & Company were worth $5,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Spinnaker Trust raised its stake in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 134 shares during the last quarter. Crown Wealth Group LLC grew its holdings in shares of Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management grew its holdings in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares during the last quarter. Finally, New Republic Capital LLC grew its holdings in shares of Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WFC. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler upped their target price 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 upped their target price on 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 target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $73.21 on Wednesday. The stock has a fifty day moving average price of $76.03 and a two-hundred day moving average price of $68.24. 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 firm has a market cap of $240.73 billion, a P/E ratio of 13.61, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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. The firm had revenue of $20.38 billion during 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%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company 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.