U.S. Capital Wealth Advisors LLC Trims Stake in Wells Fargo & Company (NYSE:WFC)

U.S. Capital Wealth Advisors LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 31.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,802 shares of the financial services provider’s stock after selling 17,842 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.11 during trading on Friday, reaching $59.94. The company had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The firm’s 50-day simple moving average is $57.63 and its 200 day simple moving average is $50.23. The firm has a market capitalization of $212.21 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the firm earned $1.23 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Raymond James increased their target price on 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. HSBC increased their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Piper Sandler cut their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Company Profile

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.