Wells Fargo & Company (NYSE:WFC) Shares Sold by Pacific Capital Wealth Advisors Inc.

Pacific Capital Wealth Advisors Inc. cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,245 shares of the financial services provider’s stock after selling 553 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in Wells Fargo & Company were worth $158,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the second quarter valued at approximately $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $77.90 on Tuesday. The stock has a market capitalization of $259.37 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.17 and a beta of 1.18. The business’s 50 day moving average is $73.19 and its two-hundred day moving average is $64.10. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. 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 report on Monday, December 9th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price 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. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

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.