Flputnam Investment Management Co. Sells 2,007 Shares of Wells Fargo & Company (NYSE:WFC)

Flputnam Investment Management Co. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 26.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,706 shares of the financial services provider’s stock after selling 2,007 shares during the quarter. Flputnam Investment Management Co.’s holdings in Wells Fargo & Company were worth $281,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WFC. First Financial Corp IN increased its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares in the last quarter. CX Institutional raised its stake in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares in the last quarter. Prio Wealth Limited Partnership boosted its position in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after buying an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WFC shares. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a report on Thursday, January 18th. Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

Shares of WFC stock opened at $58.74 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a fifty day simple moving average of $55.63 and a two-hundred day simple moving average of $48.68. The firm has a market capitalization of $207.96 billion, a PE ratio of 12.26, a PEG ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $59.13.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the company earned $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.38%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.