Wells Fargo & Company (NYSE:WFC) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 49.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,117 shares of the financial services provider’s stock after selling 5,000 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Wells Fargo & Company were worth $359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. Income Research & Management bought a new stake in Wells Fargo & Company during the third quarter worth approximately $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.7 %

WFC opened at $77.22 on Friday. The company has a market capitalization of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. 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 has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The business has a 50-day moving average of $72.60 and a 200-day moving average of $63.33.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $72.17.

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.