Vontobel Holding Ltd. Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Vontobel Holding Ltd. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 94.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,561 shares of the financial services provider’s stock after selling 139,482 shares during the period. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $421,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WFC. Panagora Asset Management Inc. grew its stake in Wells Fargo & Company by 131.0% during the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after acquiring an additional 1,958,483 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Wells Fargo & Company by 42.7% in the 4th 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 during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Wells Fargo & Company by 87.8% in the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after buying an additional 1,549,979 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $54,894,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Wells Fargo & Company by 37.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after buying an additional 1,166,000 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research reports. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $60.95 on Wednesday. The stock has a market cap of $215.79 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The firm has a 50-day moving average of $56.37 and a two-hundred day moving average of $49.26.

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

Wells Fargo & Company Company Profile

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.