Great Lakes Retirement Inc. Cuts Position in Wells Fargo & Company (NYSE:WFC)

Great Lakes Retirement Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,863 shares of the financial services provider’s stock after selling 128 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Wells Fargo & Company were worth $2,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WFC. Income Research & Management purchased a new stake in Wells Fargo & Company in the 3rd quarter worth $211,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $35,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.7 %

Shares of Wells Fargo & Company stock opened at $79.66 on Wednesday. The stock has a 50 day moving average of $73.97 and a 200 day moving average of $65.64. 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 firm has a market capitalization of $265.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WFC shares. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.