Guyasuta Investment Advisors Inc. Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Guyasuta Investment Advisors Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,331 shares of the financial services provider’s stock after selling 442 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $312,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company during the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $59.81 on Tuesday. The firm has a market capitalization of $211.75 billion, a P/E ratio of 12.49, a PEG ratio of 1.16 and a beta of 1.19. The stock has a fifty day moving average price of $57.09 and a 200 day moving average price of $49.84. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Evercore ISI boosted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.85.

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.