Hyman Charles D Sells 1,949 Shares of Wells Fargo & Company (NYSE:WFC)

Hyman Charles D reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,900 shares of the financial services provider’s stock after selling 1,949 shares during the period. Hyman Charles D’s holdings in Wells Fargo & Company were worth $1,865,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WFC. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler cut their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Evercore ISI lifted their price target 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.05 during mid-day trading on Tuesday, hitting $60.24. 16,268,222 shares of the company were exchanged, compared to its average volume of 18,899,662. Wells Fargo & Company has a 1-year low of $37.18 and a 1-year high of $61.76. The business has a 50 day simple moving average of $57.86 and a 200-day simple moving average of $50.62. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $210.02 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wells Fargo & Company 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.