Sterling Investment Management LLC Lowers Stock Position in Wells Fargo & Company (NYSE:WFC)

Sterling Investment Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,806 shares of the financial services provider’s stock after selling 201 shares during the period. Sterling Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped 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. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Up 1.1 %

Shares of WFC stock opened at $77.90 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.29. The firm’s 50 day moving average price is $72.83 and its two-hundred day moving average price is $63.60. The stock has a market cap of $259.36 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

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.