Raymond James Trust N.A. Has $4.80 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Raymond James Trust N.A. decreased its stake in Wells Fargo & Company (NYSE:WFC) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,920 shares of the financial services provider’s stock after selling 35,051 shares during the period. Raymond James Trust N.A.’s holdings in Wells Fargo & Company were worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pacifica Partners Inc. increased its stake in Wells Fargo & Company by 27.0% in the third quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 400 shares during the last quarter. Round Hill Asset Management increased its stake in shares of Wells Fargo & Company by 1.2% during the third quarter. Round Hill Asset Management now owns 35,107 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 421 shares in the last quarter. Sterneck Capital Management LLC increased its stake in shares of Wells Fargo & Company by 1.1% during the third quarter. Sterneck Capital Management LLC now owns 41,773 shares of the financial services provider’s stock valued at $982,000 after purchasing an additional 454 shares in the last quarter. Keudell Morrison Wealth Management increased its stake in shares of Wells Fargo & Company by 2.9% during the third quarter. Keudell Morrison Wealth Management now owns 17,141 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 489 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Wells Fargo & Company by 1.6% during the third quarter. Cascade Investment Advisors Inc. now owns 32,645 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 500 shares in the last quarter. 67.25% of the stock is owned by institutional investors.

WFC has been the subject of a number of analyst reports. Royal Bank of Canada raised shares of Wells Fargo & Company from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $25.00 to $31.00 in a research note on Monday, November 30th. Morgan Stanley raised shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Monday, November 30th. Barclays raised their price target on shares of Wells Fargo & Company from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 4th. Jefferies Financial Group raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and raised their price target for the company from $26.00 to $38.00 in a research report on Thursday, January 7th. Finally, Credit Suisse Group raised their price target on shares of Wells Fargo & Company from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, December 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.06.

Shares of Wells Fargo & Company stock traded down $0.14 on Wednesday, hitting $33.80. 32,067,355 shares of the company’s stock were exchanged, compared to its average volume of 44,234,320. The company has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $25.75. The stock has a market capitalization of $139.75 billion, a PE ratio of 91.35, a PEG ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $50.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The business had revenue of $18.86 billion for the quarter, compared to analysts’ expectations of $17.87 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The company’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. On average, analysts expect that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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