Wells Fargo & Company (NYSE:WFC) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,902 shares of the financial services provider’s stock after selling 761 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its stake in shares of Wells Fargo & Company by 19.5% during the third quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 1,185 shares during the period. Stoneridge Investment Partners LLC grew its position in Wells Fargo & Company by 410.5% in the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after buying an additional 54,262 shares during the last quarter. United Services Automobile Association grew its position in Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares during the last quarter. Synovus Financial Corp grew its position in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after buying an additional 46,525 shares during the last quarter. Finally, Trust Point Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $2,499,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on WFC shares. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday. HSBC raised their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Down 1.0 %

Wells Fargo & Company stock opened at $56.40 on Wednesday. The company has a market capitalization of $199.68 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm’s fifty day simple moving average is $55.25 and its 200-day simple moving average is $48.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the firm posted $1.23 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Profile

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.