Core Alternative Capital Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

Core Alternative Capital lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,803 shares of the financial services provider’s stock after selling 1,598 shares during the period. Core Alternative Capital’s holdings in Wells Fargo & Company were worth $689,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Mill Creek Capital Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $217,000. First Fiduciary Investment Counsel Inc. increased its stake in shares of Wells Fargo & Company by 26.3% in the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 6,670 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 1,390 shares in the last quarter. Sapient Capital LLC increased its stake in shares of Wells Fargo & Company by 1.7% in the 4th quarter. Sapient Capital LLC now owns 341,219 shares of the financial services provider’s stock valued at $23,967,000 after purchasing an additional 5,716 shares in the last quarter. Equitable Trust Co. increased its stake in shares of Wells Fargo & Company by 21.6% in the 4th quarter. Equitable Trust Co. now owns 23,924 shares of the financial services provider’s stock valued at $1,680,000 after purchasing an additional 4,242 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 3.8% in the 4th quarter. Soltis Investment Advisors LLC now owns 23,859 shares of the financial services provider’s stock valued at $1,676,000 after purchasing an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.0 %

Shares of Wells Fargo & Company stock opened at $79.05 on Tuesday. The stock has a market cap of $263.21 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.22 and a beta of 1.18. The stock’s 50 day simple moving average is $73.89 and its 200-day simple moving average is $65.51. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year 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.

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 the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.