Wells Fargo & Company (NYSE:WFC) Position Lowered by TD Private Client Wealth LLC

TD Private Client Wealth LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,829 shares of the financial services provider’s stock after selling 1,925 shares during the period. TD Private Client Wealth LLC’s holdings in Wells Fargo & Company were worth $5,256,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WFC. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Price Performance

NYSE WFC opened at $72.50 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $238.38 billion, a PE ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. The company’s 50 day simple moving average is $75.90 and its 200 day simple moving average is $69.24.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.