Prime Capital Investment Advisors LLC Sells 6,749 Shares of Wells Fargo & Company (NYSE:WFC)

Prime Capital Investment Advisors LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,937 shares of the financial services provider’s stock after selling 6,749 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 1st quarter worth $28,000. Baystate Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 278 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $34,000. Finally, Central Bank & Trust Co. raised its stake in shares of Wells Fargo & Company by 444.8% during the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 734 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.6 %

Shares of WFC opened at $48.06 on Monday. The firm has a market cap of $174.54 billion, a P/E ratio of 9.97, a P/E/G ratio of 1.00 and a beta of 1.18. The stock has a 50 day simple moving average of $48.53 and a two-hundred day simple moving average of $44.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. Wells Fargo & Company has a 1 year low of $35.25 and a 1 year high of $51.44.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. On average, analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Raymond James lifted their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Barclays lifted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets boosted their price objective on Wells Fargo & Company from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $51.43.

Read Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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