Wells Fargo & Company (NYSE:WFC) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,154 shares of the financial services provider’s stock after selling 835 shares during the quarter. AMG National Trust Bank’s holdings in Wells Fargo & Company were worth $924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bradyco Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $400,000. Edgestream Partners L.P. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $1,219,000. BBR Partners LLC boosted its holdings in Wells Fargo & Company by 0.9% during the fourth quarter. BBR Partners LLC now owns 17,568 shares of the financial services provider’s stock worth $1,234,000 after buying an additional 163 shares in the last quarter. Destination Wealth Management boosted its holdings in Wells Fargo & Company by 85.6% during the fourth quarter. Destination Wealth Management now owns 8,931 shares of the financial services provider’s stock worth $627,000 after buying an additional 4,118 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Wells Fargo & Company by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,061 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $71.01 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $76.10 and its 200 day moving average price is $68.50. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $233.50 billion, a PE ratio of 13.20, a PEG ratio of 1.18 and a beta of 1.16.

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, topping analysts’ consensus estimates 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 the consensus estimate of $20.58 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.