Wells Fargo & Company (NYSE:WFC) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 416,889 shares of the financial services provider’s stock after selling 37,430 shares during the quarter. Wells Fargo & Company makes up approximately 0.7% of OLD National Bancorp IN’s portfolio, making the stock its 25th biggest position. OLD National Bancorp IN’s holdings in Wells Fargo & Company were worth $29,282,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group upped 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $78.41 on Thursday. The firm has a market capitalization of $261.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. 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 business’s 50 day simple moving average is $73.35 and its 200-day simple moving average is $64.38. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.98.

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, beating 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) 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.