Amarillo National Bank Sells 920 Shares of Wells Fargo & Company (NYSE:WFC)

Amarillo National Bank cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 14.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,371 shares of the financial services provider’s stock after selling 920 shares during the quarter. Amarillo National Bank’s holdings in Wells Fargo & Company were worth $210,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $1,566,470,000. Capital World Investors raised its holdings in Wells Fargo & Company by 73.9% in the 1st quarter. Capital World Investors now owns 53,857,384 shares of the financial services provider’s stock valued at $2,609,929,000 after acquiring an additional 22,890,585 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Wells Fargo & Company by 1,478.6% in the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Wells Fargo & Company in the 1st quarter valued at $345,861,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Wells Fargo & Company by 5,232.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,211,291 shares of the financial services provider’s stock worth $155,619,000 after buying an additional 3,151,066 shares in the last quarter. 72.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Barclays decreased their target price on Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Raymond James decreased their target price on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Piper Sandler set a $48.00 price target on Wells Fargo & Company in a report on Monday, June 20th. Finally, Credit Suisse Group dropped their price objective on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $1.56 on Friday, reaching $39.96. 1,707,047 shares of the company’s stock traded hands, compared to its average volume of 14,959,803. The firm has a market cap of $151.57 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 1.04 and a beta of 1.16. The stock has a 50 day moving average price of $43.88 and a 200-day moving average price of $44.46. Wells Fargo & Company has a fifty-two week low of $36.54 and a fifty-two week high of $60.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $17.54 billion. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s quarterly revenue was down 16.0% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. Wells Fargo & Company’s dividend payout ratio is currently 28.78%.

About Wells Fargo & Company

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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