Wells Fargo & Company (NYSE:WFC) Stock Holdings Trimmed by Bison Wealth LLC

Bison Wealth LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,578 shares of the financial services provider's stock after selling 24,506 shares during the period. Bison Wealth LLC's holdings in Wells Fargo & Company were worth $1,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the fourth quarter worth about $28,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. lifted its stake 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 valued at $30,000 after purchasing an additional 237 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC opened at $71.06 on Wednesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock's 50-day moving average is $69.64 and its two-hundred day moving average is $71.68. The firm has a market cap of $232.02 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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

Wells Fargo & Company declared that its board has authorized a share buyback program on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company's payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Piper Sandler cut their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Raymond James reduced their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of 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. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $75.34.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.