FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $359,000 Position in Wells Fargo & Company (NYSE:WFC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 49.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,117 shares of the financial services provider’s stock after selling 5,000 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Wells Fargo & Company were worth $359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. acquired a new position in Wells Fargo & Company in the 2nd quarter valued at $272,000. Benjamin Edwards Inc. boosted its holdings in Wells Fargo & Company by 4.4% during the second quarter. Benjamin Edwards Inc. now owns 13,677 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 572 shares during the period. Bridges Investment Management Inc. boosted its holdings in Wells Fargo & Company by 6,978.2% during the second quarter. Bridges Investment Management Inc. now owns 814,487 shares of the financial services provider’s stock valued at $48,372,000 after acquiring an additional 802,980 shares during the period. Sprucegrove Investment Management Ltd. grew its position in shares of Wells Fargo & Company by 1.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 308,127 shares of the financial services provider’s stock valued at $18,300,000 after purchasing an additional 4,000 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 16.4% in the second quarter. AE Wealth Management LLC now owns 93,970 shares of the financial services provider’s stock worth $5,581,000 after purchasing an additional 13,241 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. UBS Group increased their price target 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. Finally, Truist Financial raised 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. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.22 on Friday. The business has a 50 day simple moving average of $72.60 and a 200 day simple moving average of $63.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13.

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, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business earned $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.