Brandywine Global Investment Management LLC decreased its position in Wells Fargo & Company (NYSE:WFC – Free Report) by 58.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,245,160 shares of the financial services provider’s stock after selling 1,750,539 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Wells Fargo & Company were worth $50,877,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at approximately $28,000. Baystate Wealth Management LLC raised its position in shares of Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 278 shares during the period. Impact Partnership Wealth LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Finally, Central Bank & Trust Co. raised its holdings in Wells Fargo & Company by 444.8% during the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider’s stock worth $37,000 after buying an additional 734 shares during the period. Institutional investors own 72.47% of the company’s stock.
Analyst Ratings Changes
WFC has been the topic of several research analyst reports. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a report on Thursday, January 18th. Piper Sandler decreased their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.43.
View Our Latest Research Report on WFC
Wells Fargo & Company Stock Performance
Shares of WFC traded down $0.13 during midday trading on Monday, reaching $51.91. 24,359,700 shares of the stock were exchanged, compared to its average volume of 18,727,807. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $52.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market cap of $188.52 billion, a P/E ratio of 10.77, a PEG ratio of 1.08 and a beta of 1.18. The stock’s 50 day simple moving average is $49.01 and its 200 day simple moving average is $44.38.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. During the same period in the prior year, the business posted $0.67 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 2nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.
About Wells Fargo & Company
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Wells Fargo & Company wasn’t on the list.
While Wells Fargo & Company currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Source: marketbeat.com
