Wells Fargo & Company (NYSE:WFC) Shares Sold by Novare Capital Management LLC

Novare Capital Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,399 shares of the financial services provider’s stock after selling 261 shares during the quarter. Novare Capital Management LLC’s holdings in Wells Fargo & Company were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cardinal Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after purchasing an additional 11,037 shares during the period. Rockefeller Capital Management L.P. increased its stake in Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after buying an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its stake in shares of Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after acquiring an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.3 %

WFC stock opened at $77.23 on Monday. The stock has a market cap of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm’s 50-day simple moving average is $73.19 and its 200 day simple moving average is $64.07. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results 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 company 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%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on WFC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.