Deprince Race & Zollo Inc. Has $71.43 Million Holdings in Wells Fargo & Company $WFC

Deprince Race & Zollo Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 852,224 shares of the financial services provider’s stock after selling 46,923 shares during the quarter. Wells Fargo & Company makes up approximately 1.4% of Deprince Race & Zollo Inc.’s holdings, making the stock its 9th biggest position. Deprince Race & Zollo Inc.’s holdings in Wells Fargo & Company were worth $71,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Embree Financial Group lifted its holdings in Wells Fargo & Company by 3.9% during the third quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Wells Fargo & Company by 1.1% in the third quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 126 shares during the period. Traphagen Investment Advisors LLC grew its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock valued at $532,000 after buying an additional 127 shares in the last quarter. Wealth Management Partners LLC lifted its holdings in shares of Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares in the last quarter. Finally, Verum Partners LLC grew its stake in Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. TD Cowen raised their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Citigroup upped their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Barclays increased their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group dropped their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Finally, Truist Financial lifted their target price on Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.04.

Wells Fargo & Company Trading Down 0.0%

Wells Fargo & Company stock opened at $95.26 on Friday. The stock has a 50-day moving average price of $87.92 and a 200 day moving average price of $83.04. The company has a market capitalization of $299.04 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $95.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.