Wells Fargo & Company (NYSE:WFC) Stock Position Decreased by Argent Advisors Inc.

Argent Advisors Inc. cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,905 shares of the financial services provider’s stock after selling 285 shares during the period. Argent Advisors Inc.’s holdings in Wells Fargo & Company were worth $2,030,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC raised its stake in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after acquiring an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Wells Fargo & Company by 14.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after acquiring an additional 131,322 shares in the last quarter. Finally, Valmark Advisers Inc. raised its stake in shares of 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 in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $70.88 on Tuesday. The stock’s fifty day simple moving average is $75.87 and its 200 day simple moving average is $69.11. 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 firm has a market cap of $233.07 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Morgan Stanley raised their price objective 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. Truist Financial raised 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. The Goldman Sachs Group raised 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. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.39.

About Wells Fargo & Company

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.