Vigilant Capital Management LLC increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,484 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Vigilant Capital Management LLC’s holdings in Wells Fargo & Co were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Bath Savings Trust Co raised its position in Wells Fargo & Co by 4.1% during the fourth quarter. Bath Savings Trust Co now owns 4,783 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 190 shares in the last quarter. Glassman Wealth Services grew its position in Wells Fargo & Co by 1.2% in the third quarter. Glassman Wealth Services now owns 16,922 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 193 shares in the last quarter. Sky Investment Group LLC grew its position in Wells Fargo & Co by 3.2% in the third quarter. Sky Investment Group LLC now owns 6,219 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 195 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its stake in shares of Wells Fargo & Co by 2.4% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 8,480 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 200 shares during the last quarter. Finally, Cardinal Capital Management increased its stake in shares of Wells Fargo & Co by 0.3% during the 3rd quarter. Cardinal Capital Management now owns 79,645 shares of the financial services provider’s stock worth $4,017,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 75.64% of the company’s stock.
Wells Fargo & Co stock traded down $0.34 on Friday, reaching $48.91. 15,641,681 shares of the stock were exchanged, compared to its average volume of 25,103,107. The stock has a market cap of $208.51 billion, a PE ratio of 11.17, a PEG ratio of 1.07 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. Wells Fargo & Co has a twelve month low of $43.34 and a twelve month high of $54.75. The firm has a fifty day moving average price of $53.33 and a two-hundred day moving average price of $50.00.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). The business had revenue of $19.86 billion during the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. Equities analysts anticipate that Wells Fargo & Co will post 4.29 EPS for the current fiscal year.
WFC has been the subject of several analyst reports. UBS Group reduced their price objective on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird cut shares of Wells Fargo & Co from a “neutral” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Thursday, January 2nd. Barclays downgraded shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 target price on the stock. in a research report on Monday, January 6th. Buckingham Research set a $47.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley cut their target price on Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $49.88.
About Wells Fargo & Co
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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