Sterling Investment Management LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,806 shares of the financial services provider’s stock after selling 201 shares during the period. Sterling Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,110,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Cardinal Capital Management Inc. increased its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after purchasing an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC boosted its stake in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after acquiring an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its holdings in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after acquiring an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Price Performance
Shares of NYSE:WFC opened at $77.90 on Wednesday. The company has a market capitalization of $259.36 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.16 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. The stock has a fifty day moving average of $72.83 and a 200-day moving average of $63.60. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.29.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Finally, Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.
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.
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