Wells Fargo & Company (NYSE:WFC) Position Reduced by First United Bank & Trust

First United Bank & Trust lessened its stake in Wells Fargo & Company (NYSE:WFC) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,720 shares of the financial services provider’s stock after selling 500 shares during the quarter. First United Bank & Trust’s holdings in Wells Fargo & Company were worth $121,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group boosted their price objective on 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 raised 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. Finally, Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.22 on Tuesday. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average of $72.74 and a two-hundred day moving average of $63.48. The company has a market capitalization of $257.11 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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 firm had revenue of $20.38 billion during 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% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

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.