Twin City Private Wealth LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Twin City Private Wealth LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 47,062 shares of the financial services provider’s stock after selling 4,849 shares during the quarter. Wells Fargo & Company makes up approximately 2.9% of Twin City Private Wealth LLC’s portfolio, making the stock its 3rd largest holding. Twin City Private Wealth LLC’s holdings in Wells Fargo & Company were worth $3,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFC shares. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Stock Performance

WFC opened at $72.51 on Monday. The business has a fifty day simple moving average of $75.95 and a 200-day simple moving average of $69.50. The firm has a market cap of $238.43 billion, a PE ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.