Hilton Capital Management LLC Trims Stake in Wells Fargo & Company (NYSE:WFC)

Hilton Capital Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,936 shares of the financial services provider’s stock after selling 20,263 shares during the period. Hilton Capital Management LLC’s holdings in Wells Fargo & Company were worth $10,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Spinnaker Trust grew its holdings in Wells Fargo & Company by 1.8% in 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 increased its stake in shares of Wells Fargo & Company by 1.9% in 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 in the last quarter. Crown Wealth Group LLC increased its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 140 shares in the last quarter. Jacobsen Capital Management grew its stake in Wells Fargo & Company by 2.8% during the fourth 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 in the last quarter. Finally, New Republic Capital LLC grew its stake in Wells Fargo & Company by 2.9% during the fourth 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 in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.8 %

Shares of Wells Fargo & Company stock opened at $68.35 on Friday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a 50 day moving average of $75.90 and a 200 day moving average of $68.74. 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 company has a market capitalization of $224.76 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released 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. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.34%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.39.

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.