Smith Capital Management Inc. AR ADV Has $272,000 Holdings in Wells Fargo & Co (NYSE:WFC)

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Smith Capital Management Inc. AR ADV lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 17.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,048 shares of the financial services provider’s stock after selling 1,033 shares during the period. Smith Capital Management Inc. AR ADV’s holdings in Wells Fargo & Co were worth $272,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Firestone Capital Management bought a new stake in shares of Wells Fargo & Co during the 4th quarter worth approximately $144,000. Front Street Capital Management Inc. lifted its holdings in shares of Wells Fargo & Co by 0.8% during the 4th quarter. Front Street Capital Management Inc. now owns 39,972 shares of the financial services provider’s stock worth $2,151,000 after acquiring an additional 320 shares during the period. AMG Funds LLC lifted its holdings in shares of Wells Fargo & Co by 46.5% during the 4th quarter. AMG Funds LLC now owns 14,748 shares of the financial services provider’s stock worth $793,000 after acquiring an additional 4,678 shares during the period. West Bancorporation Inc. bought a new stake in shares of Wells Fargo & Co during the 4th quarter worth approximately $153,000. Finally, Bollard Group LLC lifted its holdings in shares of Wells Fargo & Co by 0.7% during the 4th quarter. Bollard Group LLC now owns 35,252 shares of the financial services provider’s stock worth $1,897,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 71.91% of the company’s stock.

WFC has been the subject of a number of recent analyst reports. Barclays downgraded shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price target for the company. in a report on Monday, January 6th. Morgan Stanley cut their price target on shares of Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Piper Sandler downgraded shares of Wells Fargo & Co from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $52.00 in a report on Wednesday, January 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $53.00 price target on shares of Wells Fargo & Co in a report on Wednesday, January 15th. Finally, Robert W. Baird raised shares of Wells Fargo & Co from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.88.

NYSE:WFC traded down $1.67 on Thursday, hitting $42.47. The company had a trading volume of 41,165,456 shares, compared to its average volume of 21,576,912. The stock has a market capitalization of $190.83 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.03 and a beta of 1.12. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a 50 day moving average of $48.50 and a two-hundred day moving average of $50.09. Wells Fargo & Co has a 52 week low of $42.43 and a 52 week high of $54.75.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). The company had revenue of $19.86 billion during the quarter, compared to the consensus estimate of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. Wells Fargo & Co’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. As a group, equities analysts forecast that Wells Fargo & Co will post 4.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, February 6th. Wells Fargo & Co’s payout ratio is 46.58%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

See Also: Why is the ex-dividend date different from the record date?

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

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