River Global Investors LLP Has $861,000 Holdings in Wells Fargo & Company (NYSE:WFC)

River Global Investors LLP cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 68.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,253 shares of the financial services provider’s stock after selling 26,862 shares during the quarter. River Global Investors LLP’s holdings in Wells Fargo & Company were worth $861,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Consolidated Planning Corp grew its holdings in Wells Fargo & Company by 12.9% in the third quarter. Consolidated Planning Corp now owns 4,449 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 507 shares during the period. Capital Performance Advisors LLP acquired a new stake in Wells Fargo & Company in the third quarter worth $100,000. Hollencrest Capital Management grew its holdings in Wells Fargo & Company by 30.2% in the third quarter. Hollencrest Capital Management now owns 1,897 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 440 shares during the period. Leavell Investment Management Inc. grew its holdings in Wells Fargo & Company by 1.3% in the third quarter. Leavell Investment Management Inc. now owns 21,342 shares of the financial services provider’s stock worth $1,206,000 after purchasing an additional 281 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Wells Fargo & Company in the third quarter worth $2,300,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFC shares. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler raised 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 note on Tuesday, December 3rd. Finally, Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $71.01 on Friday. The firm has a market cap of $233.50 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm’s 50-day simple moving average is $76.10 and its two-hundred day simple moving average is $68.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

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.