Wells Fargo & Company (NYSE:WFC) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,911 shares of the financial services provider’s stock after selling 1,379 shares during the period. Meritage Portfolio Management’s holdings in Wells Fargo & Company were worth $7,575,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WFC. Tokio Marine Asset Management Co. Ltd. boosted its stake in Wells Fargo & Company by 5.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 82,227 shares of the financial services provider’s stock valued at $4,047,000 after buying an additional 4,532 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Wells Fargo & Company by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 101,401 shares of the financial services provider’s stock valued at $4,991,000 after buying an additional 3,093 shares in the last quarter. Wynn Capital LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at about $2,067,000. Bfsg LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at about $34,000. Finally, Private Management Group Inc. boosted its stake in Wells Fargo & Company by 2.3% during the fourth quarter. Private Management Group Inc. now owns 22,160 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 500 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on WFC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Up 0.8 %

Shares of WFC stock traded up $0.47 on Friday, hitting $60.40. 11,318,796 shares of the stock were exchanged, compared to its average volume of 19,013,752. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $213.84 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The business has a 50-day moving average of $56.77 and a 200 day moving average of $49.42. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.