Alerus Financial NA Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Alerus Financial NA lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 29.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,465 shares of the financial services provider’s stock after selling 40,247 shares during the period. Alerus Financial NA’s holdings in Wells Fargo & Company were worth $6,916,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in shares of Wells Fargo & Company by 13.8% during the third quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 3,016 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $256,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth $29,000. CreativeOne Wealth LLC boosted its holdings in shares of Wells Fargo & Company by 51.7% in the third quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 3,285 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock worth $58,055,000 after acquiring an additional 131,322 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 7.5 %

Shares of NYSE:WFC traded down $5.39 during trading on Thursday, hitting $66.87. The company had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a fifty day simple moving average of $75.50 and a two-hundred day simple moving average of $70.43. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $218.34 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point increased their price target 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. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.55.

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.