Blue Barn Wealth LLC Sells 2,486 Shares of Wells Fargo & Company (NYSE:WFC)

Blue Barn Wealth LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 21.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,865 shares of the financial services provider’s stock after selling 2,486 shares during the period. Blue Barn Wealth LLC’s holdings in Wells Fargo & Company were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Charles Schwab Investment Management Inc. raised its position in shares of Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after buying an additional 526,178 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Wells Fargo & Company by 19.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,465 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 1,232 shares in the last quarter. Apollon Wealth Management LLC raised its position in Wells Fargo & Company by 43.3% in the 4th quarter. Apollon Wealth Management LLC now owns 69,902 shares of the financial services provider’s stock worth $3,441,000 after purchasing an additional 21,113 shares during the period. Lincoln National Corp boosted its position in Wells Fargo & Company by 0.9% during the fourth quarter. Lincoln National Corp now owns 44,166 shares of the financial services provider’s stock valued at $2,174,000 after buying an additional 380 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in Wells Fargo & Company by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 285,731 shares of the financial services provider’s stock worth $14,064,000 after purchasing an additional 3,041 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Fourteen 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. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.97 during trading on Wednesday, hitting $61.23. 18,691,419 shares of the stock traded hands, compared to its average volume of 18,896,912. The stock has a market cap of $213.47 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.16 and a beta of 1.18. The firm’s fifty day moving average is $57.86 and its 200-day moving average is $50.62. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 EPS. Research analysts expect that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

About Wells Fargo & Company

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.