Delta Asset Management LLC TN Has $30.49 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Delta Asset Management LLC TN lowered its position in Wells Fargo & Company (NYSE:WFC) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,098 shares of the financial services provider’s stock after selling 9,775 shares during the quarter. Wells Fargo & Company accounts for approximately 2.7% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 12th largest position. Delta Asset Management LLC TN’s holdings in Wells Fargo & Company were worth $30,491,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $26,000. Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WFC. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Wells Fargo & Company Stock Performance

WFC opened at $73.45 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $239.83 billion, a PE ratio of 13.65, a P/E/G ratio of 1.18 and a beta of 1.16. The business has a fifty day simple moving average of $76.04 and a 200-day simple moving average of $69.79. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. 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 business earned $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio 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.