Wells Fargo & Company (NYSE:WFC) Stock Holdings Lessened by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 305,338 shares of the financial services provider’s stock after selling 248,564 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Wells Fargo & Company were worth $21,447,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $272,000. Pacer Advisors Inc. raised its stake in shares of Wells Fargo & Company by 0.9% during the second quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider’s stock valued at $14,748,000 after purchasing an additional 2,255 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Wells Fargo & Company by 1.1% in the second quarter. ProShare Advisors LLC now owns 723,733 shares of the financial services provider’s stock worth $42,983,000 after purchasing an additional 7,748 shares during the period. Frank Rimerman Advisors LLC grew its position in Wells Fargo & Company by 51,610.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 20,684 shares of the financial services provider’s stock valued at $1,228,000 after buying an additional 20,644 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $47,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on WFC. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Finally, Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven investment 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 presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Up 1.7 %

NYSE WFC opened at $77.22 on Tuesday. The stock’s 50 day simple moving average is $72.74 and its 200 day simple moving average is $63.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The firm has a market cap of $257.11 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

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.