Wells Fargo & Company (NYSE:WFC) Position Trimmed by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,226 shares of the financial services provider’s stock after selling 663 shares during the quarter. Wesbanco Bank Inc.’s holdings in Wells Fargo & Company were worth $2,545,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter valued at about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.1 %

Shares of Wells Fargo & Company stock opened at $77.49 on Friday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. 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 stock has a 50 day moving average price of $73.03 and a two-hundred day moving average price of $63.82. The stock has a market capitalization of $258.00 billion, a P/E ratio of 14.40, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business 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 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on WFC shares. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, 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 report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.