Eagle Bay Advisors LLC Sells 527 Shares of Wells Fargo & Company (NYSE:WFC)

Eagle Bay Advisors LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,102 shares of the financial services provider’s stock after selling 527 shares during the period. Eagle Bay Advisors LLC’s holdings in Wells Fargo & Company were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the second quarter valued at about $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Barclays upped their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Buying and Selling

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $70.59 on Tuesday. The company has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The stock’s 50 day simple moving average is $72.27 and its two-hundred day simple moving average is $63.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

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.