Paladin Advisory Group LLC Sells 534 Shares of Wells Fargo & Company (NYSE:WFC)

Paladin Advisory Group LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,410 shares of the financial services provider’s stock after selling 534 shares during the period. Paladin Advisory Group LLC’s holdings in Wells Fargo & Company were worth $169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Magnolia Capital Advisors LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $343,000. Quarry LP acquired a new stake in Wells Fargo & Company in the second quarter valued at $105,000. Advisory Alpha LLC raised its position in Wells Fargo & Company by 5.2% during the 2nd quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 270 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in Wells Fargo & Company by 2.4% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 45,991 shares of the financial services provider’s stock worth $2,731,000 after buying an additional 1,065 shares during the period. Finally, Founders Financial Alliance LLC boosted its holdings in Wells Fargo & Company by 5.4% in the second quarter. Founders Financial Alliance LLC now owns 7,350 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Barclays upped their price objective 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. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 1.1 %

Shares of WFC stock opened at $78.71 on Wednesday. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30. 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 company has a market capitalization of $262.07 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.17 and a beta of 1.18. The company’s fifty day moving average price is $73.35 and its 200-day moving average price is $64.38.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 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 period last year, the company posted $0.86 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.03%. Wells Fargo & Company’s payout ratio is 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.