Sabal Trust CO Has $1.44 Million Stake in Wells Fargo & Company (NYSE:WFC)

Sabal Trust CO increased its position in Wells Fargo & Company (NYSE:WFC) by 88.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,528 shares of the financial services provider’s stock after purchasing an additional 9,616 shares during the quarter. Sabal Trust CO’s holdings in Wells Fargo & Company were worth $1,442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $637,000. Assenagon Asset Management S.A. increased its stake in shares of Wells Fargo & Company by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after purchasing an additional 7,415 shares during the period. Modera Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares during the period. Inscription Capital LLC boosted its position in shares of Wells Fargo & Company by 4.5% in the third quarter. Inscription Capital LLC now owns 5,635 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 245 shares during the period. Finally, TCI Wealth Advisors Inc. increased its position in Wells Fargo & Company by 10.0% during the third quarter. TCI Wealth Advisors Inc. now owns 4,841 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 439 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $75.95 on Wednesday. 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’s 50-day moving average price is $75.40 and its two-hundred day moving average price is $67.44. The stock has a market capitalization of $252.87 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

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.