Keudell Morrison Wealth Management Reduces Position in Wells Fargo & Company (NYSE:WFC)

Keudell Morrison Wealth Management reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,433 shares of the financial services provider’s stock after selling 278 shares during the period. Keudell Morrison Wealth Management’s holdings in Wells Fargo & Company were worth $803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Income Research & Management purchased a new stake in Wells Fargo & Company in the third quarter valued at $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 0.7 %

Shares of WFC opened at $78.89 on Friday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $79.24. The stock has a fifty day moving average of $73.53 and a two-hundred day moving average of $64.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $262.67 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

About Wells Fargo & Company

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.