KLCM Advisors Inc. Sells 29,192 Shares of Wells Fargo & Company (NYSE:WFC)

KLCM Advisors Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.6% in the 4th quarter, HoldingsChannel reports. The firm owned 245,656 shares of the financial services provider’s stock after selling 29,192 shares during the quarter. Wells Fargo & Company makes up about 2.0% of KLCM Advisors Inc.’s holdings, making the stock its 12th biggest holding. KLCM Advisors Inc.’s holdings in Wells Fargo & Company were worth $17,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WFC. Income Research & Management bought a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $211,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $35,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.68 on Monday. The company has a 50-day simple moving average of $74.41 and a two-hundred day simple moving average of $66.15. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $265.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a one year low of $48.62 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Citigroup raised their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company 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.