Nwam LLC Sells 1,248 Shares of Wells Fargo & Company $WFC

Nwam LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,558 shares of the financial services provider’s stock after selling 1,248 shares during the quarter. Nwam LLC’s holdings in Wells Fargo & Company were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WFC. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at about $25,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares in the last quarter. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $29,000. Finally, Motco grew its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.21 on Thursday. The firm has a market cap of $270.60 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $83.53 and its 200-day moving average is $79.72. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

A number of analysts recently commented on WFC shares. Truist Financial lifted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Evercore ISI raised their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citigroup boosted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Profile

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.