1834 Investment Advisors Co. Cuts Position in Wells Fargo & Company (NYSE:WFC)

1834 Investment Advisors Co. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.6% in the fourth quarter, Holdings Channel reports. The firm owned 19,592 shares of the financial services provider’s stock after selling 2,318 shares during the period. 1834 Investment Advisors Co.’s holdings in Wells Fargo & Company were worth $1,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Income Research & Management purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $26,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $77.23 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $73.19 and its 200 day moving average price is $64.04. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The firm has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share 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.