Wells Fargo & Company $WFC Stock Holdings Cut by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 852,224 shares of the financial services provider’s stock after selling 46,923 shares during the quarter. Wells Fargo & Company accounts for 1.4% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 9th largest position. Deprince Race & Zollo Inc.’s holdings in Wells Fargo & Company were worth $71,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Access Investment Management LLC purchased a new position in Wells Fargo & Company during the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $31,000. Finally, Kilter Group LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.0%

Shares of Wells Fargo & Company stock opened at $95.26 on Friday. 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 has a 52-week low of $58.42 and a 52-week high of $95.85. The company has a market capitalization of $299.04 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.99 and a beta of 1.11. The company has a 50 day moving average of $87.92 and a 200 day moving average of $83.04.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WFC. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Citigroup increased their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Eleven investment 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 price target of $92.04.

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.