Wells Fargo & Company (NYSE:WFC) Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 53.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,966 shares of the financial services provider’s stock after selling 3,428 shares during the period. BNC Wealth Management LLC’s holdings in Wells Fargo & Company were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $25,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.7 %

NYSE WFC opened at $77.22 on Friday. The stock has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The firm has a 50-day moving average price of $72.74 and a 200 day moving average price of $63.44. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.