Accredited Investors Inc. Sells 4,484 Shares of Wells Fargo & Company (NYSE:WFC)

Accredited Investors Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,458 shares of the financial services provider’s stock after selling 4,484 shares during the period. Accredited Investors Inc.’s holdings in Wells Fargo & Company were worth $1,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $26,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth $30,000. Rakuten Securities Inc. boosted its position in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WFC. Truist Financial reduced their target price on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler raised Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 target price on the stock in a research report on Tuesday. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.66.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $64.75 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business has a fifty day moving average of $73.47 and a 200-day moving average of $70.74. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market cap of $211.42 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

About Wells Fargo & Company

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.