Amalgamated Bank Lowers Holdings in Wells Fargo & Company $WFC

Amalgamated Bank decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 631,324 shares of the financial services provider’s stock after selling 7,546 shares during the quarter. Amalgamated Bank’s holdings in Wells Fargo & Company were worth $50,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its stake in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. Finally, 1248 Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Truist Financial lifted their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Down 1.0%

Shares of NYSE:WFC opened at $86.02 on Thursday. The company has a market capitalization of $275.56 billion, a PE ratio of 14.15, a P/E/G ratio of 1.19 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The firm has a 50 day simple moving average of $82.42 and a 200-day simple moving average of $78.27.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

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.