Wells Fargo & Company (NYSE:WFC) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,524 shares of the financial services provider’s stock after selling 8,491 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $4,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WFC. Quad Cities Investment Group LLC lifted its position in shares of Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp lifted its holdings in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares during the last quarter. Ellenbecker Investment Group boosted its holdings in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the period. Income Research & Management bought a new position in shares of Wells Fargo & Company in the third quarter worth about $211,000. Finally, Modera Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.1 %

WFC stock opened at $77.90 on Wednesday. The company’s 50 day moving average is $72.94 and its 200 day moving average is $63.72. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.29. The stock has a market cap of $259.36 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

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 for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays boosted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI increased their price target 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. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.39.

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.