Cobblestone Capital Advisors LLC NY Sells 106,528 Shares of Wells Fargo & Company (NYSE:WFC)

Cobblestone Capital Advisors LLC NY lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 27.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 285,438 shares of the financial services provider’s stock after selling 106,528 shares during the period. Wells Fargo & Company accounts for about 1.1% of Cobblestone Capital Advisors LLC NY’s portfolio, making the stock its 27th largest position. Cobblestone Capital Advisors LLC NY’s holdings in Wells Fargo & Company were worth $20,049,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during 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 $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $35,000. Finally, BankPlus Trust Department acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WFC shares. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. 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. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Up 2.3 %

NYSE:WFC opened at $78.35 on Friday. The company has a market cap of $260.87 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The stock’s fifty day moving average price is $75.87 and its two-hundred day moving average price is $67.75. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS 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. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio 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.