Daymark Wealth Partners LLC Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Daymark Wealth Partners LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 65,524 shares of the financial services provider’s stock after selling 8,491 shares during the period. Daymark Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $4,602,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFC. Quad Cities Investment Group LLC grew its holdings in shares of Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares during the period. Investors Research Corp increased its position in shares of Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares during the last quarter. Ellenbecker Investment Group boosted its holdings in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 164 shares in the last quarter. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $211,000. Finally, Modera Wealth Management LLC boosted its stake in Wells Fargo & Company by 0.9% during the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.1 %

WFC opened at $77.90 on Wednesday. The firm has a market cap of $259.36 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 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. The stock has a 50-day moving average of $72.94 and a 200 day moving average of $63.72. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.29.

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 company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.