Callan Family Office LLC Sells 19,094 Shares of Wells Fargo & Company $WFC

Callan Family Office LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,524 shares of the financial services provider’s stock after selling 19,094 shares during the period. Wells Fargo & Company comprises about 0.6% of Callan Family Office LLC’s investment portfolio, making the stock its 28th biggest position. Callan Family Office LLC’s holdings in Wells Fargo & Company were worth $17,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Vanguard Group Inc. lifted its stake in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Norges Bank bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Wells Fargo & Company by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after buying an additional 1,223,999 shares in the last quarter. Amundi lifted its position in Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after buying an additional 2,180,693 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after buying an additional 542,493 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $92.25 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $91.06 and a 200-day moving average price of $85.38. The company has a market cap of $289.59 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WFC. Wolfe Research reissued an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Truist Financial decreased their target price on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. HSBC reissued a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research note on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.87.

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.