SteelPeak Wealth LLC Has $435,000 Holdings in Wells Fargo & Company (NYSE:WFC)

SteelPeak Wealth LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,195 shares of the financial services provider’s stock after selling 1,128 shares during the period. SteelPeak Wealth LLC’s holdings in Wells Fargo & Company were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WFC. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.7 %

NYSE WFC opened at $78.89 on Friday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.24. 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 stock has a 50 day moving average of $73.45 and a 200-day moving average of $64.48. The company has a market cap of $262.67 billion, a PE ratio of 14.66, a PEG ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.86 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

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.