FineMark National Bank & Trust Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

FineMark National Bank & Trust decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,038 shares of the financial services provider’s stock after selling 938 shares during the quarter. FineMark National Bank & Trust’s holdings in Wells Fargo & Company were worth $3,585,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nwam LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth $309,000. Great Valley Advisor Group Inc. boosted its position in shares of Wells Fargo & Company by 2.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock worth $1,311,000 after acquiring an additional 487 shares in the last quarter. Algert Global LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $3,981,000. Larson Financial Group LLC increased its holdings in shares of Wells Fargo & Company by 21.8% in the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Wells Fargo & Company by 13.8% during the 3rd quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after acquiring an additional 3,016 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada upgraded 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. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $74.27 on Wednesday. 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 firm has a market cap of $244.21 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm’s fifty day moving average price is $76.09 and its 200 day moving average price is $69.76. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

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.