Wells Fargo & Company (NYSE:WFC) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 686,636 shares of the financial services provider's stock after selling 31,839 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Wells Fargo & Company were worth $48,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company in the fourth quarter worth about $28,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. increased its position in shares of 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 purchasing an additional 237 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WFC shares. Morgan Stanley upped their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.82 during trading hours on Monday, reaching $68.91. 4,470,352 shares of the company were exchanged, compared to its average volume of 17,411,335. 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 firm has a market cap of $225.01 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock's 50-day moving average is $70.01 and its 200-day moving average is $71.62.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. Wells Fargo & Company's payout ratio is currently 28.73%.

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.