Jacobi Capital Management LLC Has $1.23 Million Stake in Wells Fargo & Company (NYSE:WFC)

Jacobi Capital Management LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 17,549 shares of the financial services provider’s stock after selling 177 shares during the period. Jacobi Capital Management LLC’s holdings in Wells Fargo & Company were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WFC. Focus Financial Network Inc. raised its stake in Wells Fargo & Company by 1.3% during the third quarter. Focus Financial Network Inc. now owns 59,812 shares of the financial services provider’s stock worth $3,379,000 after acquiring an additional 757 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in Wells Fargo & Company by 259.6% during the third quarter. Gladstone Institutional Advisory LLC now owns 34,403 shares of the financial services provider’s stock worth $1,943,000 after acquiring an additional 24,835 shares in the last quarter. Americana Partners LLC increased its stake in shares of Wells Fargo & Company by 6.1% in the third quarter. Americana Partners LLC now owns 8,790 shares of the financial services provider’s stock valued at $497,000 after buying an additional 503 shares during the period. Lowe Brockenbrough & Co. Inc. increased its stake in shares of Wells Fargo & Company by 0.7% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 57,035 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 402 shares during the period. Finally, Creative Capital Management Investments LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $113,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.35 on Friday. The stock has a market capitalization of $260.87 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock’s 50 day moving average price is $75.87 and its two-hundred day moving average price is $67.86. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 for 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 for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WFC shares. Morgan Stanley upped their price objective 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. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup upped their price objective 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. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & 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.