Beese Fulmer Investment Management Inc. Has $1.63 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Beese Fulmer Investment Management Inc. reduced its position in Wells Fargo & Company (NYSE:WFC) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,231 shares of the financial services provider’s stock after selling 593 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Wells Fargo & Company were worth $1,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $2,509,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Wells Fargo & Company by 3.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425,905 shares of the financial services provider’s stock worth $29,916,000 after acquiring an additional 15,690 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Wells Fargo & Company by 25.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,529 shares of the financial services provider’s stock worth $1,091,000 after purchasing an additional 3,111 shares during the last quarter. RNC Capital Management LLC raised its holdings in shares of Wells Fargo & Company by 129.9% during the 4th quarter. RNC Capital Management LLC now owns 44,476 shares of the financial services provider’s stock valued at $3,124,000 after purchasing an additional 25,127 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $2,262,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.7 %

Shares of WFC stock opened at $81.45 on Friday. The stock has a market cap of $271.18 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a fifty day moving average price of $73.72 and a 200 day moving average price of $65.16. Wells Fargo & Company has a one year low of $47.45 and a one year high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several equities analysts have commented on WFC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.