Kanawha Capital Management LLC Has $949,000 Position in Wells Fargo & Company (NYSE:WFC)

Kanawha Capital Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,514 shares of the financial services provider’s stock after selling 835 shares during the quarter. Kanawha Capital Management LLC’s holdings in Wells Fargo & Company were worth $949,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Asset Planning Inc bought a new position in Wells Fargo & Company during the fourth quarter worth about $208,000. Banque Pictet & Cie SA grew its stake in Wells Fargo & Company by 8.5% during the fourth quarter. Banque Pictet & Cie SA now owns 1,452,996 shares of the financial services provider’s stock worth $102,058,000 after buying an additional 113,439 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $228,000. Walkner Condon Financial Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $246,000. Finally, Bogart Wealth LLC grew its stake in Wells Fargo & Company by 24.4% during the fourth quarter. Bogart Wealth LLC now owns 1,117 shares of the financial services provider’s stock worth $78,000 after buying an additional 219 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WFC shares. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial raised their price target 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. Finally, Citigroup raised their price target 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $78.76 on Friday. The company has a fifty day moving average of $74.20 and a 200-day moving average of $65.87. The firm has a market capitalization of $262.23 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $47.96 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during 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%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.