LifeSteps Financial Inc. Has $984,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

LifeSteps Financial Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,014 shares of the financial services provider’s stock after selling 396 shares during the quarter. Wells Fargo & Company comprises 0.8% of LifeSteps Financial Inc.’s investment portfolio, making the stock its 28th biggest holding. LifeSteps Financial Inc.’s holdings in Wells Fargo & Company were worth $984,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group boosted their price target 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. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 1.5 %

Shares of NYSE:WFC opened at $77.43 on Friday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a market capitalization of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The business has a fifty day moving average price of $75.20 and a two-hundred day moving average price of $66.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during 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%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.