Wells Fargo & Company $WFC Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,580 shares of the financial services provider’s stock after selling 7,895 shares during the quarter. Bard Financial Services Inc.’s holdings in Wells Fargo & Company were worth $5,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Wells Fargo & Company by 0.4% in the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares in the last quarter. Norges Bank purchased a new position in Wells Fargo & Company in the second quarter valued at approximately $3,990,551,000. Massachusetts Financial Services Co. MA raised its holdings in Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares in the last quarter. Finally, Amundi raised its holdings in Wells Fargo & Company by 18.2% during the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after purchasing an additional 2,180,693 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Bank of America upped their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Truist Financial raised their price objective on Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. UBS Group reduced their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $101.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.04.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $95.26 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $95.85. The stock has a market capitalization of $299.04 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.99 and a beta of 1.11. The business’s 50 day moving average is $87.92 and its two-hundred day moving average is $83.04.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating 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%.Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

About Wells Fargo & Company

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.