Wells Fargo & Company (NYSE:WFC) Shares Sold by Continental Advisors LLC

Continental Advisors LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,106 shares of the financial services provider’s stock after selling 8,800 shares during the quarter. Wells Fargo & Company makes up about 2.7% of Continental Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Continental Advisors LLC’s holdings in Wells Fargo & Company were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Nippon Life Global Investors Americas Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $34,611,000. J. Safra Sarasin Holding AG bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $254,000. Optivise Advisory Services LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $215,000. Van Lanschot Kempen Investment Management N.V. acquired a new position in Wells Fargo & Company in the fourth quarter worth $6,168,000. Finally, Wealth Dimensions Group Ltd. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $210,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Barclays lowered their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. 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 for the company in a report on Thursday, March 13th. Finally, Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Stock Down 1.1 %

NYSE WFC opened at $64.03 on Tuesday. The company has a market capitalization of $209.07 billion, a P/E ratio of 11.90, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company’s 50 day simple moving average is $70.92 and its 200 day simple moving average is $71.32.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 28.73%.

About Wells Fargo & Company

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.