Wells Fargo & Company (NYSE:WFC) Shares Sold by Regal Partners Ltd

Regal Partners Ltd decreased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 717,554 shares of the financial services provider's stock after selling 184,889 shares during the quarter. Wells Fargo & Company comprises about 5.1% of Regal Partners Ltd's portfolio, making the stock its 7th largest holding. Regal Partners Ltd's holdings in Wells Fargo & Company were worth $50,401,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WFC. Empowered Funds LLC grew its holdings in shares of 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 valued at $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Valmark Advisers Inc. grew its stake in shares of Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc increased its holdings in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock worth $12,115,000 after buying an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WFC. Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial cut their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Raymond James reduced their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler lowered their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Up 2.7 %

Shares of WFC traded up $1.95 during midday trading on Friday, reaching $73.76. 18,345,997 shares of the stock were exchanged, compared to its average volume of 17,545,830. 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's 50 day moving average is $69.37 and its two-hundred day moving average is $71.87. The company has a market capitalization of $240.84 billion, a P/E ratio of 13.71, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 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 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.17%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

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.