Folger Nolan Fleming Douglas Capital Management Inc. Has $5.37 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,415 shares of the financial services provider’s stock after selling 4,686 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Wells Fargo & Company were worth $5,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Edgestream Partners L.P. bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $272,000. Benjamin Edwards Inc. grew its position in Wells Fargo & Company by 4.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 13,677 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 572 shares during the period. Bridges Investment Management Inc. raised its holdings in Wells Fargo & Company by 6,978.2% during the second quarter. Bridges Investment Management Inc. now owns 814,487 shares of the financial services provider’s stock worth $48,372,000 after buying an additional 802,980 shares during the last quarter. Sprucegrove Investment Management Ltd. lifted its stake in shares of Wells Fargo & Company by 1.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 308,127 shares of the financial services provider’s stock valued at $18,300,000 after buying an additional 4,000 shares in the last quarter. Finally, AE Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 16.4% in the second quarter. AE Wealth Management LLC now owns 93,970 shares of the financial services provider’s stock valued at $5,581,000 after buying an additional 13,241 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.22 on Friday. The company has a 50-day moving average price of $72.60 and a two-hundred day moving average price of $63.33. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $257.11 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 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 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & 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.