Mitsubishi UFJ Trust & Banking Corp Sells 44,099 Shares of Wells Fargo & Company $WFC

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,395,045 shares of the financial services provider’s stock after selling 44,099 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wells Fargo & Company were worth $116,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hilton Capital Management LLC bought a new position in Wells Fargo & Company in the second quarter worth $3,656,000. Three Bridge Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth about $364,000. Board of the Pension Protection Fund purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth about $40,000. Arkadios Wealth Advisors increased its stake in shares of Wells Fargo & Company by 65.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 43,622 shares of the financial services provider’s stock worth $3,656,000 after acquiring an additional 17,223 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $10,729,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. HSBC reissued a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Truist Financial dropped their target price on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Finally, Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.87.

Wells Fargo & Company Stock Down 1.2%

Shares of Wells Fargo & Company stock opened at $87.00 on Friday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $90.33 and its 200 day moving average is $84.97. The company has a market cap of $273.11 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.