Courier Capital LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Courier Capital LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,785 shares of the financial services provider’s stock after selling 795 shares during the period. Courier Capital LLC’s holdings in Wells Fargo & Company were worth $964,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Silicon Valley Capital Partners bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Barrett & Company Inc. purchased a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $25,000. Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the first quarter valued at about $28,000. Finally, Activest Wealth Management bought a new position in Wells Fargo & Company in the first quarter worth about $30,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Atlantic Securities upped their target price on Wells Fargo & Company from $50.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 price objective for the company. in a research report on Monday, July 17th. VNET Group reaffirmed a “maintains” rating on shares of Wells Fargo & Company in a research report on Monday, June 26th. StockNews.com started coverage on shares of Wells Fargo & Company in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $43.00 to $45.00 in a report on Monday, July 17th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $42.25 on Thursday. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $48.84. The stock’s 50 day simple moving average is $43.44 and its 200 day simple moving average is $41.51. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $154.58 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. Wells Fargo & Company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 4.84 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 3rd. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. Wells Fargo & Company’s payout ratio is currently 35.00%.

Wells Fargo & Company Profile

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