Duncker Streett & Co. Inc. Has $297,000 Stake in Wells Fargo & Company (NYSE:WFC)

Duncker Streett & Co. Inc. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 16.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,030 shares of the financial services provider’s stock after selling 1,181 shares during the period. Duncker Streett & Co. Inc.’s holdings in Wells Fargo & Company were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Studio Investment Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $28,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $57.18 on Thursday. 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 has a market capitalization of $202.44 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The firm’s fifty day simple moving average is $55.42 and its two-hundred day simple moving average is $48.61. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on WFC shares. Piper Sandler lowered their price objective on shares of 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. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Argus boosted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company 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.