DMC Group LLC Sells 1,823 Shares of Wells Fargo & Company (NYSE:WFC)

DMC Group LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 17,550 shares of the financial services provider’s stock after selling 1,823 shares during the quarter. Wells Fargo & Company accounts for about 1.0% of DMC Group LLC’s holdings, making the stock its 27th largest holding. DMC Group LLC’s holdings in Wells Fargo & Company were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Quarry LP bought a new position in Wells Fargo & Company in the 2nd quarter valued at about $105,000. Advisory Alpha LLC grew its position in shares of Wells Fargo & Company by 5.2% in the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 270 shares during the last quarter. RiverFront Investment Group LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth approximately $6,927,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Finally, Creekside Partners bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $566,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $78.41 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.98. The company has a market capitalization of $261.07 billion, a P/E ratio of 14.57, a PEG ratio of 1.17 and a beta of 1.18. The company has a fifty day moving average price of $73.35 and a 200-day moving average price of $64.38.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the business earned $0.86 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.