Wells Fargo & Company (NYSE:WFC) Shares Sold by Bank of Stockton

Bank of Stockton reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,476 shares of the financial services provider’s stock after selling 1,753 shares during the period. Wells Fargo & Company makes up about 1.3% of Bank of Stockton’s investment portfolio, making the stock its 16th largest position. Bank of Stockton’s holdings in Wells Fargo & Company were worth $4,178,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Spinnaker Trust increased its stake in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares in the last quarter. Jacobsen Capital Management increased its stake in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares in the last quarter. New Republic Capital LLC increased its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 149 shares in the last quarter. Quad Cities Investment Group LLC increased its stake in Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares in the last quarter. Finally, Investors Research Corp increased its stake in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 2.1 %

Shares of Wells Fargo & Company stock opened at $78.69 on Friday. The stock has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $66.73. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $262.00 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.