Lountzis Asset Management LLC Has $17.69 Million Position in Wells Fargo & Company (NYSE:WFC)

Lountzis Asset Management LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 251,799 shares of the financial services provider’s stock after selling 1,243 shares during the period. Wells Fargo & Company makes up 7.5% of Lountzis Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Lountzis Asset Management LLC’s holdings in Wells Fargo & Company were worth $17,686,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.5 %

WFC opened at $80.38 on Thursday. The company has a market cap of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18. 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 has a 52 week low of $50.15 and a 52 week high of $81.50. The business has a 50 day moving average price of $74.90 and a two-hundred day moving average price of $66.64.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.