Good Life Advisors LLC lowered its stake in Wells Fargo & Co (NYSE:WFC) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,188 shares of the financial services provider’s stock after selling 350 shares during the period. Good Life Advisors LLC’s holdings in Wells Fargo & Co were worth $599,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Horan Capital Advisors LLC. acquired a new position in Wells Fargo & Co in the third quarter valued at $25,000. NuWave Investment Management LLC lifted its holdings in Wells Fargo & Co by 122.3% in the third quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock valued at $39,000 after buying an additional 439 shares during the period. MV Capital Management Inc. lifted its holdings in Wells Fargo & Co by 49.3% in the third quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock valued at $41,000 after buying an additional 265 shares during the period. Venturi Wealth Management LLC acquired a new position in Wells Fargo & Co in the third quarter valued at $42,000. Finally, Bourgeon Capital Management LLC acquired a new position in Wells Fargo & Co in the third quarter valued at $47,000. Hedge funds and other institutional investors own 75.64% of the company’s stock.
WFC traded down $0.30 during midday trading on Friday, hitting $48.96. The company had a trading volume of 5,025,465 shares, compared to its average volume of 25,103,107. Wells Fargo & Co has a 52 week low of $43.34 and a 52 week high of $54.75. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $208.51 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.07 and a beta of 1.11. The stock’s 50 day moving average price is $53.33 and its 200 day moving average price is $50.00.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The company had revenue of $19.86 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period last year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts predict that Wells Fargo & Co will post 4.29 EPS for the current year.
Several equities analysts recently issued reports on the stock. Credit Suisse Group dropped their target price on shares of Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Odeon Capital Group lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. Piper Sandler lowered shares of Wells Fargo & Co from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $60.00 to $52.00 in a report on Wednesday. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Buckingham Research set a $47.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 30th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.88.
Wells Fargo & Co Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
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