Wells Fargo & Company (NYSE:WFC) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 22.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,427 shares of the financial services provider’s stock after selling 1,550 shares during the quarter. Zions Bancorporation N.A.’s holdings in Wells Fargo & Company were worth $381,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Wells Fargo & Company by 21.8% in the third quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,097 shares in the last quarter. Fisher Asset Management LLC boosted its position in Wells Fargo & Company by 13.8% during the third quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 3,016 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $256,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Wells Fargo & Company by 44.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 9,544 shares of the financial services provider’s stock worth $540,000 after buying an additional 2,940 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $73.45 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. The company has a 50-day moving average of $76.04 and a 200-day moving average of $69.79. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a market capitalization of $239.83 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.18.

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.