Pacifica Partners Inc. Sells 490 Shares of Wells Fargo & Company (NYSE:WFC)

Pacifica Partners Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,743 shares of the financial services provider’s stock after selling 490 shares during the quarter. Pacifica Partners Inc.’s holdings in Wells Fargo & Company were worth $2,088,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Quad Cities Investment Group LLC grew its stake in Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 158 shares during the last quarter. Ignite Planners LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $255,000. Hummer Financial Advisory Services Inc acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $220,000. MRA Advisory Group acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $219,000. Finally, Johnson & White Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at $312,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.8 %

Shares of NYSE:WFC opened at $71.07 on Wednesday. The company has a 50 day moving average price of $72.41 and a two-hundred day moving average price of $63.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $236.63 billion, a PE ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial began coverage on shares of Wells Fargo & Company in a research report on Tuesday, January 7th. They set a “buy” rating and a $82.00 target price on the stock. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company 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.