Channing Capital Management LLC Sells 13,149 Shares of Wells Fargo & Company (NYSE:WFC)

Channing Capital Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,559 shares of the financial services provider’s stock after selling 13,149 shares during the quarter. Channing Capital Management LLC’s holdings in Wells Fargo & Company were worth $8,346,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. TCI Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $206,000. Connecticut Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at $211,000. Forte Capital LLC ADV acquired a new position in Wells Fargo & Company in the 4th quarter valued at $263,000. TCG Advisory Services LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $13,124,000. Finally, AJOVista LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $173,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WFC. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research report on Thursday, January 18th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Trading Up 0.2 %

Shares of NYSE:WFC traded up $0.11 during trading on Friday, reaching $59.94. The stock had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The firm’s fifty day moving average is $57.63 and its 200 day moving average is $50.35. The stock has a market cap of $212.21 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.34%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Profile

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.