TBH Global Asset Management LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 24.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,886 shares of the financial services provider’s stock after selling 16,485 shares during the period. TBH Global Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,014,000 as of its most recent SEC filing.
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Several other institutional investors have also recently bought and sold shares of the business. Moors & Cabot Inc. raised its holdings in Wells Fargo & Company by 14.5% during the third quarter. Moors & Cabot Inc. now owns 66,991 shares of the financial services provider’s stock worth $2,694,000 after buying an additional 8,475 shares during the last quarter. LSV Asset Management raised its holdings in shares of Wells Fargo & Company by 38.2% in the third quarter. LSV Asset Management now owns 5,593,055 shares of the financial services provider’s stock valued at $224,953,000 after purchasing an additional 1,546,223 shares during the last quarter. Monument Capital Management raised its holdings in shares of Wells Fargo & Company by 55.7% in the third quarter. Monument Capital Management now owns 12,828 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 4,589 shares during the last quarter. Advanced Research Investment Solutions LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at about $86,000. Finally, Heritage Investment Group Inc. grew its position in Wells Fargo & Company by 5.8% during the third quarter. Heritage Investment Group Inc. now owns 6,701 shares of the financial services provider’s stock valued at $270,000 after buying an additional 369 shares during the period. Institutional investors and hedge funds own 72.24% of the company’s stock.
Analyst Ratings Changes
WFC has been the subject of several research reports. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Odeon Capital Group raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $51.79 price target on the stock in a report on Tuesday, January 10th. The Goldman Sachs Group raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $48.00 in a report on Monday, October 3rd. Jefferies Financial Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and lowered their price target for the stock from $49.00 to $46.00 in a report on Tuesday, January 17th. Finally, Piper Sandler downgraded shares of Wells Fargo & Company from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $49.00 to $47.00 in a report on Tuesday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.62.
Wells Fargo & Company Price Performance
Shares of WFC stock traded up $0.43 during trading hours on Monday, hitting $46.55. 6,850,439 shares of the company’s stock were exchanged, compared to its average volume of 19,100,807. The company has a market capitalization of $177.38 billion, a PE ratio of 14.82, a PEG ratio of 0.93 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30. The business’s 50 day simple moving average is $43.57 and its 200-day simple moving average is $43.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08.
Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its earnings results on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The firm had revenue of $19.66 billion for the quarter, compared to analysts’ expectations of $20.04 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Wells Fargo & Company will post 4.86 earnings per share for the current year.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Friday, February 3rd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, February 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 38.22%.
Wells Fargo & Company Company Profile
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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