Wells Fargo & Company (NYSE:WFC) Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 14.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,589 shares of the financial services provider’s stock after selling 4,120 shares during the quarter. Leavell Investment Management Inc.’s holdings in Wells Fargo & Company were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company in the 1st quarter valued at about $28,000. Finally, Baystate Wealth Management LLC grew its holdings in Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WFC shares. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. HSBC boosted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Compass Point boosted their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $56.68.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $56.68 on Friday. The business’s 50 day moving average is $54.06 and its two-hundred day moving average is $47.61. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44. The firm has a market cap of $200.67 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 4.73 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.

About Wells Fargo & Company

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