Cobblestone Capital Advisors LLC NY Sells 106,528 Shares of Wells Fargo & Company (NYSE:WFC)

Cobblestone Capital Advisors LLC NY reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,438 shares of the financial services provider’s stock after selling 106,528 shares during the quarter. Wells Fargo & Company accounts for approximately 1.1% of Cobblestone Capital Advisors LLC NY’s portfolio, making the stock its 27th largest holding. Cobblestone Capital Advisors LLC NY’s holdings in Wells Fargo & Company were worth $20,049,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SteelPeak Wealth LLC increased its holdings in Wells Fargo & Company by 4.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 7,323 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 311 shares during the period. Focus Financial Network Inc. increased its holdings in Wells Fargo & Company by 1.3% during the 3rd quarter. Focus Financial Network Inc. now owns 59,812 shares of the financial services provider’s stock valued at $3,379,000 after purchasing an additional 757 shares during the period. Lebenthal Global Advisors LLC increased its holdings in Wells Fargo & Company by 1.6% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 14,676 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 228 shares during the period. Interchange Capital Partners LLC increased its holdings in Wells Fargo & Company by 3.3% during the 3rd quarter. Interchange Capital Partners LLC now owns 8,215 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 265 shares during the period. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Wells Fargo & Company by 259.6% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 34,403 shares of the financial services provider’s stock worth $1,943,000 after acquiring an additional 24,835 shares during the period. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on WFC. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price 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. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $78.35 on Friday. The stock has a market capitalization of $260.87 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.18 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 current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $75.87 and its 200 day simple moving average is $67.75.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $0.86 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.