Sapient Capital LLC Sells 12,852 Shares of Wells Fargo & Company $WFC

Sapient Capital LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 331,384 shares of the financial services provider’s stock after selling 12,852 shares during the quarter. Sapient Capital LLC’s holdings in Wells Fargo & Company were worth $28,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mayflower Financial Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 58.8% during the third quarter. Mayflower Financial Advisors LLC now owns 8,652 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 3,202 shares in the last quarter. Rede Wealth LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth about $200,000. FSM Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 46.7% during the 3rd quarter. FSM Wealth Advisors LLC now owns 4,622 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 1,471 shares during the period. Apella Capital LLC boosted its holdings in shares of Wells Fargo & Company by 14.5% during the 3rd quarter. Apella Capital LLC now owns 38,613 shares of the financial services provider’s stock valued at $3,243,000 after acquiring an additional 4,877 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 2.8% in the third quarter. 180 Wealth Advisors LLC now owns 5,888 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 158 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. 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. Truist Financial raised their price target on Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Citigroup lifted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $92.04.

Wells Fargo & Company Price Performance

NYSE WFC opened at $95.26 on Friday. 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 12 month low of $58.42 and a 12 month high of $95.85. The stock has a market cap of $299.04 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.99 and a beta of 1.11. The company’s 50 day moving average is $87.92 and its two-hundred day moving average is $83.04.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wells Fargo & 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.