Copperwynd Financial LLC cut its position in shares of Wells Fargo & Co (NYSE:WFC) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,066 shares of the financial services provider’s stock after selling 400 shares during the period. Copperwynd Financial LLC’s holdings in Wells Fargo & Co were worth $326,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new stake in shares of Wells Fargo & Co during the 3rd quarter worth about $25,000. NuWave Investment Management LLC raised its stake in shares of Wells Fargo & Co by 122.3% during the 3rd quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 439 shares in the last quarter. MV Capital Management Inc. raised its stake in shares of Wells Fargo & Co by 49.3% during the 3rd quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 265 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Wells Fargo & Co during the 3rd quarter worth about $42,000. Finally, Hanson & Doremus Investment Management raised its stake in shares of Wells Fargo & Co by 222.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 870 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 600 shares in the last quarter. 75.67% of the stock is owned by institutional investors.
WFC has been the topic of a number of analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $53.00 price objective on shares of Wells Fargo & Co in a report on Wednesday, January 15th. Citigroup increased their price objective on Wells Fargo & Co from $48.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Royal Bank of Canada lowered Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from $48.00 to $42.00 in a report on Thursday, January 16th. Raymond James lowered Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a report on Monday, December 2nd. Finally, Argus raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, September 30th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.88.
WFC traded down $0.34 during midday trading on Thursday, reaching $48.22. The company’s stock had a trading volume of 17,294,733 shares, compared to its average volume of 24,955,213. The stock has a market cap of $206.98 billion, a P/E ratio of 12.00, a PEG ratio of 1.11 and a beta of 1.11. The company has a fifty day simple moving average of $52.73 and a 200 day simple moving average of $50.05. 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.
Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. Sell-side analysts expect that Wells Fargo & Co will post 4.12 earnings per share for the current year.
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.
Read More: What is the Dividend Aristocrat Index?
Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.