Wells Fargo & Company (NYSE:WFC) Shares Sold by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 78.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,997 shares of the financial services provider’s stock after selling 33,242 shares during the period. Meridian Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $632,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Blueprint Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 120.7% in the 4th quarter. Blueprint Investment Partners LLC now owns 10,930 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 5,978 shares in the last quarter. Guardian Partners Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $4,242,000. KLP Kapitalforvaltning AS acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $85,031,000. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Wells Fargo & Company by 1.4% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 179,743 shares of the financial services provider’s stock valued at $12,625,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Plancorp LLC lifted its stake in shares of Wells Fargo & Company by 9.3% in the 4th quarter. Plancorp LLC now owns 14,889 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 1,264 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Trading Down 0.0 %

Shares of Wells Fargo & Company stock opened at $72.51 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $238.43 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The business has a fifty day simple moving average of $75.95 and a 200-day simple moving average of $69.42. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. 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.