Wells Fargo & Company (NYSE:WFC) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,813 shares of the financial services provider’s stock after selling 1,206 shares during the period. Lindbrook Capital LLC’s holdings in Wells Fargo & Company were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WFC. Catalyst Capital Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at $160,000. Pittenger & Anderson Inc. raised its holdings in Wells Fargo & Company by 24.5% in the third quarter. Pittenger & Anderson Inc. now owns 1,035 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 204 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in Wells Fargo & Company by 3.5% in the third quarter. Crestwood Advisors Group LLC now owns 37,017 shares of the financial services provider’s stock valued at $2,091,000 after acquiring an additional 1,262 shares in the last quarter. HF Advisory Group LLC raised its holdings in Wells Fargo & Company by 10.3% in the third quarter. HF Advisory Group LLC now owns 38,893 shares of the financial services provider’s stock valued at $2,197,000 after acquiring an additional 3,637 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in Wells Fargo & Company by 9.7% in the third quarter. Avidian Wealth Enterprises LLC now owns 8,160 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 720 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WFC. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup boosted their target price 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. Truist Financial boosted their target price 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, Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Up 1.2 %

Wells Fargo & Company stock opened at $74.20 on Thursday. The company has a 50-day simple moving average of $76.08 and a 200-day simple moving average of $68.28. The firm has a market capitalization of $243.97 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results 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. 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%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. Wells Fargo & Company’s dividend payout ratio 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.