Quantum Capital Management trimmed its position in Wells Fargo & Co (NYSE:WFC) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,209 shares of the financial services provider’s stock after selling 5,855 shares during the quarter. Quantum Capital Management’s holdings in Wells Fargo & Co were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its holdings in Wells Fargo & Co by 270.1% in the third quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after purchasing an additional 65,517,025 shares during the period. Primecap Management Co. CA grew its holdings in Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock worth $2,024,201,000 after acquiring an additional 12,337,098 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Wells Fargo & Co by 4,415.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 21,307,608 shares during the period. Sanders Capital LLC grew its holdings in Wells Fargo & Co by 1.2% during the 4th quarter. Sanders Capital LLC now owns 15,820,838 shares of the financial services provider’s stock worth $808,166,000 after acquiring an additional 180,608 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Wells Fargo & Co by 5.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 15,545,982 shares of the financial services provider’s stock worth $817,097,000 after purchasing an additional 839,794 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.
NYSE WFC traded down $0.39 during trading hours on Friday, reaching $48.79. The company had a trading volume of 5,501,093 shares, compared to its average volume of 25,350,848. The stock has a market capitalization of $238.33 billion, a P/E ratio of 11.14, a PEG ratio of 0.89 and a beta of 1.11. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $59.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87.Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.80 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Co will post 4.94 EPS for the current year.
WFC has been the topic of several recent research reports. Deutsche Bank cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and dropped their price target for the company from $56.00 to $54.00 in a research report on Friday, March 29th. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Raymond James raised shares of Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price objective for the company in a report on Friday, March 29th. Finally, Credit Suisse Group lowered their price target on shares of Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.67.
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Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company’s Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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