Zuckerman Investment Group LLC Sells 415 Shares of Wells Fargo & Company (NYSE:WFC)

Zuckerman Investment Group LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,968 shares of the financial services provider’s stock after selling 415 shares during the quarter. Zuckerman Investment Group LLC’s holdings in Wells Fargo & Company were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Financial Advisors Inc. grew its stake in shares of Wells Fargo & Company by 26.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,100 shares of the financial services provider’s stock worth $1,131,000 after buying an additional 3,398 shares in the last quarter. Redwood Park Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $70,000. Azimuth Capital Investment Management LLC lifted its stake in shares of Wells Fargo & Company by 887.8% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 317,575 shares of the financial services provider’s stock valued at $22,306,000 after purchasing an additional 285,425 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Wells Fargo & Company by 2.9% in the 4th quarter. Advisory Services Network LLC now owns 106,633 shares of the financial services provider’s stock worth $7,490,000 after purchasing an additional 3,055 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $70,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $66.52 on Thursday. The company has a 50 day moving average price of $73.47 and a two-hundred day moving average price of $70.74. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a market capitalization 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. 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 (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Truist Financial cut their price objective on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Bank of America reduced their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley boosted their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Finally, Citigroup dropped their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.66.

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.