Verum Partners LLC Sells 2,639 Shares of Wells Fargo & Company (NYSE:WFC)

Verum Partners LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 27.0% in the 4th quarter, HoldingsChannel reports. The firm owned 7,119 shares of the financial services provider’s stock after selling 2,639 shares during the period. Verum Partners LLC’s holdings in Wells Fargo & Company were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WFC shares. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Truist Financial lifted their price target 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. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 1.1 %

Wells Fargo & Company stock opened at $77.90 on Wednesday. The stock has a 50-day simple moving average of $72.83 and a 200 day simple moving average of $63.60. The stock has a market capitalization of $259.36 billion, a P/E ratio of 14.48, a PEG ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.29.

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. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

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.