Wells Fargo & Company (NYSE:WFC) Stock Position Lowered by Skba Capital Management LLC

Skba Capital Management LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,050 shares of the financial services provider’s stock after selling 29,400 shares during the period. Skba Capital Management LLC’s holdings in Wells Fargo & Company were worth $9,626,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Spinnaker Trust grew its holdings in shares of Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC increased its holdings in shares of Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 134 shares during the period. Crown Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the period. Jacobsen Capital Management boosted its holdings in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares during the period. Finally, New Republic Capital LLC grew its position in Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 149 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WFC shares. Barclays lifted 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 note on Thursday, January 16th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Trading Down 2.2 %

Shares of Wells Fargo & Company stock opened at $70.71 on Monday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company’s fifty day simple moving average is $75.84 and its 200-day simple moving average is $70.14. The company has a market cap of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s dividend payout ratio is currently 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.