Bradley Foster & Sargent Inc. CT Has $4.69 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Bradley Foster & Sargent Inc. CT cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,820 shares of the financial services provider’s stock after selling 968 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Wells Fargo & Company were worth $4,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $77.43 on Friday. The company’s 50 day moving average is $75.20 and its 200-day moving average is $66.90. The firm has a market cap of $257.81 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.20 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. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

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.