Wells Fargo & Company (NYSE:WFC) Shares Sold by Tweedy Browne Co LLC

Tweedy Browne Co LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 20.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 677,364 shares of the financial services provider’s stock after selling 176,912 shares during the period. Wells Fargo & Company accounts for approximately 3.2% of Tweedy Browne Co LLC’s holdings, making the stock its 8th biggest position. Tweedy Browne Co LLC’s holdings in Wells Fargo & Company were worth $47,578,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WFC. Empowered Funds LLC lifted its holdings in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after buying an additional 30,510 shares during the period. Valmark Advisers Inc. lifted its holdings in Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 431 shares during the last quarter. NatWest Group plc grew its stake in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after purchasing an additional 63,102 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $1,656,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WFC shares. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. 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. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Finally, Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Price Performance

Shares of WFC opened at $71.85 on Tuesday. The firm’s 50 day moving average price is $75.73 and its 200 day moving average price is $70.29. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market cap of $234.59 billion, a PE ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 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.