Citizens National Bank Trust Department Lowers Position in Wells Fargo & Company (NYSE:WFC)

Citizens National Bank Trust Department cut its stake in Wells Fargo & Company (NYSE:WFC) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,127 shares of the financial services provider’s stock after selling 1,500 shares during the period. Citizens National Bank Trust Department’s holdings in Wells Fargo & Company were worth $1,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after buying an additional 30,510 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after acquiring an additional 18,717 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 valued at $58,055,000 after buying an additional 131,322 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $80.38 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $267.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The business’s 50-day moving average is $74.90 and its 200 day moving average is $66.64.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.39.

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.