Kistler Tiffany Companies LLC decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,016 shares of the financial services provider’s stock after selling 387 shares during the quarter. Kistler Tiffany Companies LLC’s holdings in Wells Fargo & Co were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in WFC. Cozad Asset Management Inc. purchased a new stake in Wells Fargo & Co in the 4th quarter valued at about $274,000. Waverton Investment Management Ltd raised its holdings in Wells Fargo & Co by 3.6% in the 4th quarter. Waverton Investment Management Ltd now owns 27,826 shares of the financial services provider’s stock valued at $1,282,000 after buying an additional 966 shares during the period. YHB Investment Advisors Inc. raised its holdings in Wells Fargo & Co by 8.7% in the 4th quarter. YHB Investment Advisors Inc. now owns 88,850 shares of the financial services provider’s stock valued at $4,094,000 after buying an additional 7,111 shares during the period. Cullinan Associates Inc. raised its holdings in Wells Fargo & Co by 6.4% in the 4th quarter. Cullinan Associates Inc. now owns 13,368 shares of the financial services provider’s stock valued at $616,000 after buying an additional 800 shares during the period. Finally, Cerebellum GP LLC raised its holdings in Wells Fargo & Co by 38.0% in the 4th quarter. Cerebellum GP LLC now owns 4,694 shares of the financial services provider’s stock valued at $216,000 after buying an additional 1,292 shares during the period. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on WFC shares. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the company a “buy” rating in a report on Friday, September 28th. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Nomura cut their price target on shares of Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 15th. Citigroup upgraded shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research note on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $61.93.
WFC traded up $0.43 on Monday, reaching $48.30. The company’s stock had a trading volume of 9,097,984 shares, compared to its average volume of 20,301,086. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $233.16 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $66.31.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). The business had revenue of $21.94 billion during the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. On average, equities analysts anticipate that Wells Fargo & Co will post 4.49 EPS for the current fiscal year.
Wells Fargo & Co declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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About Wells Fargo & Co
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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