UMB Bank n.a. Has $6.58 Million Position in Wells Fargo & Company (NYSE:WFC)

UMB Bank n.a. reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,713 shares of the financial services provider’s stock after selling 202 shares during the quarter. UMB Bank n.a.’s holdings in Wells Fargo & Company were worth $6,582,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the second quarter worth $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WFC. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $77.22 on Monday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The firm has a 50-day moving average price of $72.74 and a 200 day moving average price of $63.46.

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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

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.