Wells Fargo & Company (NYSE:WFC) Stock Position Cut by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lessened its stake in Wells Fargo & Company (NYSE:WFC – Get Rating) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 684,374 shares of the financial services provider’s stock after selling 7,192 shares during the period. Wells Fargo & Company accounts for 1.3% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 14th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $27,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in WFC. Price T Rowe Associates Inc. MD boosted its position in shares of Wells Fargo & Company by 23.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 87,369,282 shares of the financial services provider’s stock valued at $3,422,255,000 after purchasing an additional 16,552,773 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after buying an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Wells Fargo & Company during the first quarter valued at about $345,861,000. Arrowstreet Capital Limited Partnership lifted its stake in Wells Fargo & Company by 5,232.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,211,291 shares of the financial services provider’s stock valued at $155,619,000 after buying an additional 3,151,066 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Wells Fargo & Company by 62.5% during the second quarter. AQR Capital Management LLC now owns 4,437,545 shares of the financial services provider’s stock valued at $171,067,000 after buying an additional 1,707,261 shares in the last quarter. Institutional investors own 72.24% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

NYSE:WFC traded up $0.13 during mid-day trading on Wednesday, reaching $44.58. The stock had a trading volume of 2,058,995 shares, compared to its average volume of 19,122,012. The business’s 50 day moving average is $43.60 and its 200 day moving average is $43.69. Wells Fargo & Company has a fifty-two week low of $36.54 and a fifty-two week high of $60.30. The stock has a market cap of $169.87 billion, a P/E ratio of 14.16, a PEG ratio of 0.91 and a beta of 1.18. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The firm had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.69%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 38.22%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Odeon Capital Group raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $51.79 price objective for the company in a research note on Tuesday, January 10th. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. Piper Sandler lowered shares of Wells Fargo & Company from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $49.00 to $47.00 in a research note on Tuesday, January 17th. Cfra raised shares of Wells Fargo & Company to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, January 13th. Finally, Jefferies Financial Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and reduced their price objective for the company from $49.00 to $46.00 in a research note on Tuesday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

Wells Fargo & Company Company Profile

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