Wells Fargo & Company (NYSE:WFC) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,636 shares of the financial services provider’s stock after selling 495 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Wells Fargo & Company were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WFC. Northern Trust Corp boosted its holdings in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after buying an additional 335,560 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Wells Fargo & Company by 2.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after buying an additional 221,459 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Wells Fargo & Company by 19.4% during the third quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock worth $290,234,000 after buying an additional 1,156,106 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Finally, StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Up 0.5 %

Shares of Wells Fargo & Company stock traded up $0.28 during midday trading on Tuesday, reaching $61.38. 9,312,072 shares of the company’s stock traded hands, compared to its average volume of 18,876,555. The company has a market cap of $217.31 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company’s 50 day simple moving average is $56.12 and its 200 day simple moving average is $49.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Equities analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.