Beacon Financial Group Sells 5,037 Shares of Wells Fargo & Company (NYSE:WFC)

Beacon Financial Group decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 101,451 shares of the financial services provider’s stock after selling 5,037 shares during the period. Beacon Financial Group’s holdings in Wells Fargo & Company were worth $7,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Finally, FSA Wealth Management LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WFC. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their target price 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. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $79.66 on Wednesday. The company has a market capitalization of $265.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The company has a 50-day moving average of $73.97 and a 200-day moving average of $65.64. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. 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 released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.