First National Bank & Trust Co. of Newtown Decreases Position in Wells Fargo & Company (NYSE:WFC)

First National Bank & Trust Co. of Newtown cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,178 shares of the financial services provider’s stock after selling 1,110 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Wells Fargo & Company were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Income Research & Management purchased a new stake in Wells Fargo & Company during the third quarter valued at approximately $211,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $35,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.5 %

Shares of NYSE:WFC opened at $80.38 on Thursday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The business’s fifty day simple moving average is $74.90 and its 200-day simple moving average is $66.64. The company has a market capitalization of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results 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 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.99%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Evercore ISI increased their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.