Smithfield Trust Co Sells 300 Shares of Wells Fargo & Company (NYSE:WFC)

Smithfield Trust Co lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,554 shares of the financial services provider’s stock after selling 300 shares during the quarter. Smithfield Trust Co’s holdings in Wells Fargo & Company were worth $390,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spinnaker Trust grew its holdings in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC grew its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 134 shares during the period. Crown Wealth Group LLC raised its stake in Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 140 shares during the period. Jacobsen Capital Management raised its stake in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 148 shares during the period. Finally, New Republic Capital LLC raised its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 149 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 1.2 %

Shares of WFC stock opened at $74.20 on Thursday. The firm has a market capitalization of $243.97 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month 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. The stock’s fifty day simple moving average is $76.08 and its 200 day simple moving average is $68.28.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 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.