Bank of Stockton Sells 1,753 Shares of Wells Fargo & Company (NYSE:WFC)

Bank of Stockton trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,476 shares of the financial services provider’s stock after selling 1,753 shares during the quarter. Wells Fargo & Company accounts for 1.3% of Bank of Stockton’s portfolio, making the stock its 16th largest holding. Bank of Stockton’s holdings in Wells Fargo & Company were worth $4,178,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the third quarter valued at $34,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial upped 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. Evercore ISI upped their target price 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. 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. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley upped their target price 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. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $78.69 on Friday. The stock’s fifty day moving average is $75.06 and its 200-day moving average is $66.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $262.00 billion, a PE ratio of 14.63, a PEG ratio of 1.20 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.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company 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 business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio 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.