Deseret Mutual Benefit Administrators Trims Stake in Wells Fargo & Company (NYSE:WFC)

Deseret Mutual Benefit Administrators lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,982 shares of the financial services provider’s stock after selling 441 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Wells Fargo & Company were worth $701,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.5 %

Shares of Wells Fargo & Company stock opened at $77.43 on Friday. The company has a 50-day moving average of $75.20 and a two-hundred day moving average of $66.90. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market cap of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report 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 report on Tuesday, December 10th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.39.

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.