Capital Asset Advisory Services LLC Sells 2,844 Shares of Wells Fargo & Company (NYSE:WFC)

Capital Asset Advisory Services LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 5.9% during the 4th quarter, HoldingsChannel reports. The fund owned 45,005 shares of the financial services provider’s stock after selling 2,844 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Wells Fargo & Company were worth $3,209,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its position in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after buying an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. lifted its position in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. Truist Financial boosted 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. Barclays boosted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 0.3 %

Shares of WFC opened at $77.23 on Monday. The firm’s 50-day simple moving average is $73.19 and its 200 day simple moving average is $64.07. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.30. The firm has a market cap of $257.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.17 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 (NYSE:WFC) last announced its earnings results 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 net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

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.