Everpar Advisors LLC Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Everpar Advisors LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,200 shares of the financial services provider’s stock after selling 737 shares during the quarter. Everpar Advisors LLC’s holdings in Wells Fargo & Company were worth $506,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Two Sigma Advisers LP lifted its position in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $160,529,000. Marshall Wace LLP increased its stake in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after acquiring an additional 2,404,898 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after acquiring an additional 1,659,716 shares during the period. Finally, National Pension Service boosted its position in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of research reports. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $75.94 on Friday. The company has a market cap of $252.85 billion, a PE ratio of 15.79, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The firm has a 50-day simple moving average of $72.47 and a 200 day simple moving average of $63.24. 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 announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

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.