Wells Fargo & Company $WFC Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 51,853 shares of the financial services provider’s stock after selling 803 shares during the quarter. Associated Banc Corp’s holdings in Wells Fargo & Company were worth $4,154,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Prosperity Consulting Group LLC raised its holdings in Wells Fargo & Company by 54.3% during the 1st quarter. Prosperity Consulting Group LLC now owns 9,832 shares of the financial services provider’s stock worth $706,000 after buying an additional 3,460 shares during the period. Foundations Investment Advisors LLC raised its holdings in Wells Fargo & Company by 53.7% during the 1st quarter. Foundations Investment Advisors LLC now owns 38,236 shares of the financial services provider’s stock worth $2,745,000 after buying an additional 13,355 shares during the period. Picton Mahoney Asset Management lifted its stake in Wells Fargo & Company by 405.0% during the first quarter. Picton Mahoney Asset Management now owns 359,825 shares of the financial services provider’s stock valued at $25,831,000 after buying an additional 288,566 shares in the last quarter. Finally, Marco Investment Management LLC boosted its holdings in shares of Wells Fargo & Company by 1.5% in the first quarter. Marco Investment Management LLC now owns 29,951 shares of the financial services provider’s stock worth $2,150,000 after buying an additional 450 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $85.09 on Wednesday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $267.09 billion, a P/E ratio of 13.99, a PEG ratio of 1.18 and a beta of 1.22. The company has a fifty day moving average price of $84.14 and a 200 day moving average price of $80.51.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial raised their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. TD Cowen boosted their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.