Fruth Investment Management Sells 300 Shares of Wells Fargo & Company (NYSE:WFC)

Fruth Investment Management lowered its stake in Wells Fargo & Company (NYSE:WFC) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,918 shares of the financial services provider’s stock after selling 300 shares during the quarter. Fruth Investment Management’s holdings in Wells Fargo & Company were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.7 %

WFC opened at $80.07 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s 50 day moving average price is $73.66 and its 200-day moving average price is $65.06. Wells Fargo & Company has a one year low of $47.45 and a one year high of $80.35. The stock has a market cap of $266.58 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.19 and a beta of 1.18.

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, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Compass Point raised their target price 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. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

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.