Koss Olinger Consulting LLC Reduces Position in Wells Fargo & Company $WFC

Koss Olinger Consulting LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 25.6% during the 2nd quarter, Holdings Channel reports. The firm owned 3,660 shares of the financial services provider’s stock after selling 1,258 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Wells Fargo & Company were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC grew its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $27,000. Motco boosted its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Citigroup upped their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $86.97 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $82.08 and a two-hundred day moving average of $77.94. The stock has a market capitalization of $278.59 billion, a PE ratio of 14.30, a P/E/G ratio of 1.19 and a beta of 1.25. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & 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.