Carson Advisory Inc. Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Carson Advisory Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,227 shares of the financial services provider’s stock after selling 492 shares during the quarter. Carson Advisory Inc.’s holdings in Wells Fargo & Company were worth $929,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WFC. Empowered Funds LLC boosted its stake in Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc boosted its position in Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC raised its holdings in Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after acquiring an additional 2,548 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup dropped their target price 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. Morgan Stanley raised their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Truist Financial reduced their target price on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $75.66.

Wells Fargo & Company Price Performance

WFC stock opened at $62.36 on Friday. The business’s fifty day moving average price is $72.83 and its 200 day moving average price is $70.87. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $203.62 billion, a PE ratio of 11.59, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.57%. Wells Fargo & Company’s dividend payout ratio 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.