Wells Fargo & Company (NYSE:WFC) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,414 shares of the financial services provider’s stock after selling 3,523 shares during the period. Wells Fargo & Company comprises about 3.7% of Monte Financial Group LLC’s holdings, making the stock its largest position. Monte Financial Group LLC’s holdings in Wells Fargo & Company were worth $8,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service increased its stake in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. increased its position in Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the period. Nordea Investment Management AB increased its position in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $160,529,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WFC shares. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $77.23 on Friday. The stock’s 50 day moving average price is $73.19 and its 200 day moving average price is $64.04. The firm has a market cap of $257.13 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 the consensus estimate of $20.58 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect 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.