Tradition Wealth Management LLC Sells 176 Shares of Wells Fargo & Company (NYSE:WFC)

Tradition Wealth Management LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,277 shares of the financial services provider’s stock after selling 176 shares during the quarter. Tradition Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,127,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WFC. Spinnaker Trust raised its position in shares of Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC increased its stake in Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 130 shares in the last quarter. MONECO Advisors LLC raised its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC lifted its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after buying an additional 140 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its holdings in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider’s stock valued at $1,580,000 after buying an additional 144 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Truist Financial decreased their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley increased their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $64.63 on Friday. The stock has a 50-day simple moving average of $71.23 and a two-hundred day simple moving average of $71.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market capitalization of $211.02 billion, a PE ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm’s revenue was down 3.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 28.73%.

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.