Interchange Capital Partners LLC Sells 1,695 Shares of Wells Fargo & Company (NYSE:WFC)

Interchange Capital Partners LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 20.6% during the 4th quarter, Holdings Channel reports. The fund owned 6,520 shares of the financial services provider’s stock after selling 1,695 shares during the period. Interchange Capital Partners LLC’s holdings in Wells Fargo & Company were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Jackson Thornton Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $236,000. Angeles Investment Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $228,000. Congress Wealth Management LLC DE raised its position in Wells Fargo & Company by 17.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 7,452 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 1,091 shares during the period. Crowley Wealth Management Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $62,000. Finally, Blueprint Investment Partners LLC raised its position in Wells Fargo & Company by 120.7% in the fourth quarter. Blueprint Investment Partners LLC now owns 10,930 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 5,978 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. 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. Finally, UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $72.51 on Monday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a market capitalization of $238.43 billion, a P/E ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16. The firm has a fifty day simple moving average of $75.95 and a two-hundred day simple moving average of $69.50. 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 (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & 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.