Wells Fargo & Company (NYSE:WFC) Shares Sold by Alerus Financial NA

Alerus Financial NA cut its stake in Wells Fargo & Company (NYSE:WFC) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,465 shares of the financial services provider’s stock after selling 40,247 shares during the period. Alerus Financial NA’s holdings in Wells Fargo & Company were worth $6,916,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFC. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. increased its position in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.6 %

Wells Fargo & Company stock opened at $72.33 on Friday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company’s fifty day moving average price is $75.97 and its two-hundred day moving average price is $69.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $236.17 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.18.

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.