SeaBridge Investment Advisors LLC Has $727,000 Stake in Wells Fargo & Company (NYSE:WFC)

SeaBridge Investment Advisors LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,346 shares of the financial services provider’s stock after purchasing an additional 4,301 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $727,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Western Financial Corp CA lifted its holdings in shares of Wells Fargo & Company by 1.1% during the fourth quarter. Western Financial Corp CA now owns 96,067 shares of the financial services provider’s stock valued at $6,748,000 after acquiring an additional 1,032 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Wells Fargo & Company by 34.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,852 shares of the financial services provider’s stock valued at $1,184,000 after acquiring an additional 4,324 shares in the last quarter. Concord Asset Management LLC VA grew its stake in shares of Wells Fargo & Company by 29.8% during the fourth quarter. Concord Asset Management LLC VA now owns 6,721 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 1,542 shares during the last quarter. Brewster Financial Planning LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $337,000. Finally, Waldron Private Wealth LLC boosted its position in Wells Fargo & Company by 1.8% in the 4th quarter. Waldron Private Wealth LLC now owns 14,248 shares of the financial services provider’s stock valued at $1,001,000 after buying an additional 254 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $78.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $262.40 billion, a PE ratio of 14.65, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.29. The business’s 50-day moving average price is $73.59 and its two-hundred day moving average price is $64.72.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates 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 revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.