Wells Fargo & Company (NYSE:WFC) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 36.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,292 shares of the financial services provider’s stock after selling 4,735 shares during the period. Ironwood Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $582,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WFC. Nations Financial Group Inc. IA ADV increased its holdings in shares of Wells Fargo & Company by 6.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 259 shares during the period. Cable Hill Partners LLC grew its holdings in Wells Fargo & Company by 20.5% during the third quarter. Cable Hill Partners LLC now owns 4,298 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 732 shares during the period. Zions Bancorporation N.A. grew its holdings in Wells Fargo & Company by 4.7% during the third quarter. Zions Bancorporation N.A. now owns 6,977 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 311 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Wells Fargo & Company by 9.6% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 32,021 shares of the financial services provider’s stock worth $1,809,000 after acquiring an additional 2,800 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Wells Fargo & Company by 3.6% during the third quarter. CIBC Asset Management Inc now owns 579,985 shares of the financial services provider’s stock worth $32,763,000 after acquiring an additional 20,053 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Up 3.6 %

Shares of NYSE:WFC opened at $70.96 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock’s fifty day simple moving average is $75.89 and its 200-day simple moving average is $68.84. The company has a market capitalization of $233.31 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.