Kerrisdale Advisers LLC Sells 16,200 Shares of Wells Fargo & Company (NYSE:WFC)

Kerrisdale Advisers LLC lowered its holdings in Wells Fargo & Company (NYSE:WFCFree Report) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,621 shares of the financial services provider’s stock after selling 16,200 shares during the period. Kerrisdale Advisers LLC’s holdings in Wells Fargo & Company were worth $2,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Studio Investment Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $28,000. Baystate Wealth Management LLC boosted its position in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after buying an additional 278 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. Finally, Central Bank & Trust Co. lifted its position in shares of Wells Fargo & Company by 444.8% in the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 734 shares during the period. Institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WFC shares. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Piper Sandler cut their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $51.43.

View Our Latest Stock Analysis on Wells Fargo & Company

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.99 during mid-day trading on Monday, reaching $56.05. 14,802,406 shares of the company’s stock traded hands, compared to its average volume of 18,953,502. The company has a market cap of $200.52 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.14 and a beta of 1.19. The stock has a 50 day moving average of $49.99 and a two-hundred day moving average of $45.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $56.56.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

About Wells Fargo & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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