Patrick M Sweeney & Associates Inc. Sells 1,065 Shares of Wells Fargo & Company (NYSE:WFC)

Patrick M Sweeney & Associates Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 16.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,362 shares of the financial services provider’s stock after selling 1,065 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Wells Fargo & Company were worth $377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Verde Servicos Internacionais S.A. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $21,787,000. Greenup Street Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at $1,511,000. Lebenthal Global Advisors LLC boosted its holdings in Wells Fargo & Company by 3.0% in the fourth quarter. Lebenthal Global Advisors LLC now owns 15,109 shares of the financial services provider’s stock valued at $1,061,000 after acquiring an additional 433 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Wells Fargo & Company by 15.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 24,881 shares of the financial services provider’s stock valued at $1,748,000 after acquiring an additional 3,398 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its holdings in Wells Fargo & Company by 3.1% in the fourth quarter. Parsons Capital Management Inc. RI now owns 5,931 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.90 on Tuesday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The business has a 50-day simple moving average of $73.19 and a two-hundred day simple moving average of $64.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $259.37 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WFC. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.