Phoenix Financial Ltd. Has $20.88 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Phoenix Financial Ltd. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,213 shares of the financial services provider’s stock after selling 28,437 shares during the period. Phoenix Financial Ltd.’s holdings in Wells Fargo & Company were worth $20,877,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WFC. Coldstream Capital Management Inc. grew its holdings in Wells Fargo & Company by 18.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 43,973 shares of the financial services provider’s stock valued at $2,558,000 after buying an additional 6,841 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Wells Fargo & Company by 4.5% in the third quarter. Sunbelt Securities Inc. now owns 23,830 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 1,027 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Wells Fargo & Company by 105.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,010,101 shares of the financial services provider’s stock worth $57,060,000 after purchasing an additional 518,524 shares during the period. Rehmann Capital Advisory Group boosted its holdings in Wells Fargo & Company by 1.7% in the third quarter. Rehmann Capital Advisory Group now owns 30,826 shares of the financial services provider’s stock worth $1,747,000 after acquiring an additional 521 shares in the last quarter. Finally, TCW Group Inc. lifted its holdings in shares of Wells Fargo & Company by 21.4% in the third quarter. TCW Group Inc. now owns 556,662 shares of the financial services provider’s stock valued at $31,446,000 after purchasing an additional 98,247 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 7.2 %

Shares of WFC opened at $66.52 on Thursday. The company’s fifty day moving average is $73.47 and its two-hundred day moving average is $70.74. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $217.20 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (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 in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.41%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Truist Financial dropped their target price on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 4th. Barclays increased 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. Piper Sandler upgraded Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 target price for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.66.

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.