Wells Fargo & Company (NYSE:WFC) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,226 shares of the financial services provider’s stock after selling 663 shares during the quarter. Wesbanco Bank Inc.’s holdings in Wells Fargo & Company were worth $2,545,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC increased its position in shares of Wells Fargo & Company by 2.2% during the fourth quarter. Global Trust Asset Management LLC now owns 9,953 shares of the financial services provider’s stock worth $699,000 after acquiring an additional 217 shares during the last quarter. Advisory Alpha LLC increased its holdings in Wells Fargo & Company by 6.9% during the 4th quarter. Advisory Alpha LLC now owns 6,273 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 405 shares during the last quarter. West Branch Capital LLC increased its holdings in Wells Fargo & Company by 53.3% during the 4th quarter. West Branch Capital LLC now owns 17,187 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 5,979 shares during the last quarter. Braun Bostich & Associates Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $246,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 5.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 905,758 shares of the financial services provider’s stock valued at $63,620,000 after buying an additional 44,147 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.1 %

Wells Fargo & Company stock opened at $77.49 on Friday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $258.00 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The firm has a 50 day simple moving average of $73.03 and a 200-day simple moving average of $63.82.

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 analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.84 EPS 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.