Altfest L J & Co. Inc. Sells 1,842 Shares of Wells Fargo & Company (NYSE:WFC)

Altfest L J & Co. Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.8% during the 4th quarter, Holdings Channel reports. The firm owned 8,526 shares of the financial services provider’s stock after selling 1,842 shares during the period. Altfest L J & Co. Inc.’s holdings in Wells Fargo & Company were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Financial Corp IN raised its stake in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional raised its holdings in Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after acquiring an additional 217 shares during the period. SJS Investment Consulting Inc. lifted its position in Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 244 shares during the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Wells Fargo & Company by 4.6% during the fourth quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 245 shares during the period. Finally, Security National Bank of SO Dak increased its position in Wells Fargo & Company by 3.0% during the 3rd quarter. Security National Bank of SO Dak now owns 8,591 shares of the financial services provider’s stock worth $351,000 after buying an additional 252 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.7 %

NYSE WFC traded up $0.39 on Thursday, reaching $58.00. The company had a trading volume of 5,503,738 shares, compared to its average volume of 18,989,348. The firm has a market cap of $205.34 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a fifty-two week low of $36.27 and a fifty-two week high of $58.44. The business has a 50 day moving average of $52.78 and a two-hundred day moving average of $46.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS 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 company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. Wells Fargo & Company’s revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Barclays upped their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $55.85.

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.