Pring Turner Capital Group Inc. Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Pring Turner Capital Group Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,230 shares of the financial services provider’s stock after selling 1,139 shares during the quarter. Wells Fargo & Company makes up 1.8% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 27th largest position. Pring Turner Capital Group Inc.’s holdings in Wells Fargo & Company were worth $2,756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BankPlus Trust Department purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $35,000. Wealthstream Advisors Inc. increased its position in shares of Wells Fargo & Company by 15.8% in the fourth quarter. Wealthstream Advisors Inc. now owns 7,179 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 981 shares during the period. Crestwood Advisors Group LLC increased its position in shares of Wells Fargo & Company by 8.8% in the fourth quarter. Crestwood Advisors Group LLC now owns 40,277 shares of the financial services provider’s stock valued at $2,829,000 after acquiring an additional 3,260 shares during the period. Mainstay Capital Management LLC ADV increased its position in shares of Wells Fargo & Company by 30.9% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 19,832 shares of the financial services provider’s stock valued at $1,393,000 after acquiring an additional 4,680 shares during the period. Finally, Colonial River Investments LLC increased its position in shares of Wells Fargo & Company by 5.3% during the fourth quarter. Colonial River Investments LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,021,000 after buying an additional 730 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company 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 company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

Shares of NYSE WFC opened at $77.10 on Tuesday. The firm’s 50 day moving average price is $75.30 and its 200-day moving average price is $67.28. The company has a market cap of $256.72 billion, a PE ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. 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 issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.