Stableford Capital II LLC Sells 496 Shares of Wells Fargo & Company (NYSE:WFC)

Stableford Capital II LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 37,121 shares of the financial services provider’s stock after selling 496 shares during the quarter. Wells Fargo & Company accounts for about 1.0% of Stableford Capital II LLC’s investment portfolio, making the stock its 25th biggest position. Stableford Capital II LLC’s holdings in Wells Fargo & Company were worth $2,607,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WFC. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at $25,000. Abacus Planning Group Inc. raised its position in shares of Wells Fargo & Company by 14.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 5,073 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 640 shares during the last quarter. Czech National Bank boosted its stake in Wells Fargo & Company by 4.4% in the 3rd quarter. Czech National Bank now owns 693,384 shares of the financial services provider’s stock worth $39,169,000 after purchasing an additional 28,976 shares in the last quarter. Finally, Farmers Trust Co. grew its position in Wells Fargo & Company by 2.6% during the 3rd quarter. Farmers Trust Co. now owns 11,963 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

Wells Fargo & Company stock opened at $78.81 on Friday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.29. The firm has a market capitalization of $262.40 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.18 and a beta of 1.18. The firm has a 50 day moving average of $73.59 and a 200 day moving average of $64.72. The company has a current ratio of 0.86, a quick ratio of 0.85 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 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. 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. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group upped 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 note on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

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.