Wells Fargo & Company (NYSE:WFC) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 250,804 shares of the financial services provider’s stock after selling 3,500 shares during the quarter. Meyer Handelman Co.’s holdings in Wells Fargo & Company were worth $17,616,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WFC. Avity Investment Management Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $248,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Wells Fargo & Company by 5.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,670 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 175 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Wells Fargo & Company by 13.6% in the 4th quarter. Park Avenue Securities LLC now owns 120,843 shares of the financial services provider’s stock valued at $8,488,000 after purchasing an additional 14,477 shares during the period. Kathmere Capital Management LLC increased its stake in Wells Fargo & Company by 46.8% in the 4th quarter. Kathmere Capital Management LLC now owns 15,069 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 4,802 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 7.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 49,301 shares of the financial services provider’s stock worth $3,463,000 after buying an additional 3,520 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.8 %

Wells Fargo & Company stock opened at $71.07 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The firm’s fifty day simple moving average is $72.41 and its 200-day simple moving average is $63.15. The company has a market capitalization of $236.63 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 12.25% and a net margin of 14.43%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WFC shares. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial initiated coverage on shares of Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price objective for the company. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.