Wells Fargo & Company (NYSE:WFC) Shares Sold by Asio Capital LLC

Asio Capital LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 23.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,760 shares of the financial services provider’s stock after selling 15,230 shares during the quarter. Asio Capital LLC’s holdings in Wells Fargo & Company were worth $3,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.3 %

NYSE:WFC opened at $77.23 on Friday. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30. 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 company has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock has a 50-day simple moving average of $73.19 and a 200 day simple moving average of $64.04.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Company Profile

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.