Wells Fargo & Company (NYSE:WFC) Short Interest Down 20.2% in December

Wells Fargo & Company (NYSE:WFC) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 30,060,000 shares, a decrease of 20.2% from the December 15th total of 37,660,000 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 17,180,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WFC shares. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.17.

Institutional Investors Weigh In On Wells Fargo & Company

A number of large investors have recently modified their holdings of WFC. Aspire Private Capital LLC boosted its stake in Wells Fargo & Company by 1.3% during the fourth quarter. Aspire Private Capital LLC now owns 29,151 shares of the financial services provider’s stock worth $2,048,000 after acquiring an additional 362 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Wells Fargo & Company by 13.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,225,100 shares of the financial services provider’s stock worth $86,051,000 after buying an additional 144,037 shares during the last quarter. Monterey Private Wealth Inc. lifted its stake in Wells Fargo & Company by 20.0% during the 4th quarter. Monterey Private Wealth Inc. now owns 4,776 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 795 shares during the period. Chesley Taft & Associates LLC boosted its holdings in shares of Wells Fargo & Company by 37.8% during the 4th quarter. Chesley Taft & Associates LLC now owns 195,896 shares of the financial services provider’s stock valued at $13,760,000 after acquiring an additional 53,773 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of Wells Fargo & Company by 2.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 53,149 shares of the financial services provider’s stock valued at $3,733,000 after acquiring an additional 1,381 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1 %

NYSE WFC traded up $0.05 during trading on Friday, hitting $76.00. 2,702,452 shares of the company’s stock traded hands, compared to its average volume of 15,122,039. The firm has a market cap of $253.05 billion, a P/E ratio of 15.80, a PEG ratio of 1.39 and a beta of 1.18. The stock has a fifty day moving average of $72.47 and a two-hundred day moving average of $63.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Wells Fargo & Company Company Profile

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.