Sapient Capital LLC Sells 1,771 Shares of Wells Fargo & Company (NYSE:WFC)

Sapient Capital LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 15.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,937 shares of the financial services provider’s stock after selling 1,771 shares during the period. Sapient Capital LLC’s holdings in Wells Fargo & Company were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its holdings in Wells Fargo & Company by 12.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 424 shares in the last quarter. CX Institutional increased its holdings in Wells Fargo & Company by 2.6% in the 3rd quarter. CX Institutional now owns 20,063 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 500 shares in the last quarter. Avion Wealth increased its holdings in Wells Fargo & Company by 23.3% in the 3rd quarter. Avion Wealth now owns 17,253 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 3,258 shares in the last quarter. Golden State Equity Partners increased its holdings in Wells Fargo & Company by 98.8% in the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after acquiring an additional 30,316 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its holdings in Wells Fargo & Company by 30.5% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 53,469 shares of the financial services provider’s stock valued at $2,185,000 after buying an additional 12,494 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.8 %

Shares of WFC traded down $0.48 during trading hours on Tuesday, reaching $59.32. 18,007,381 shares of the company traded hands, compared to its average volume of 19,055,352. The firm has a market cap of $210.02 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average price is $57.24 and its 200 day moving average price is $49.97.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WFC shares. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Profile

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