First PREMIER Bank Trims Position in Wells Fargo & Company (NYSE:WFC)

First PREMIER Bank reduced its position in Wells Fargo & Company (NYSE:WFC) by 32.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,539 shares of the financial services provider’s stock after selling 4,576 shares during the quarter. First PREMIER Bank’s holdings in Wells Fargo & Company were worth $670,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Canoe Financial LP bought a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. Caisse DE Depot ET Placement DU Quebec grew its position in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after acquiring an additional 1,105,679 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

Shares of NYSE:WFC opened at $77.56 on Thursday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.29. The stock has a market capitalization of $258.23 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.18 and a beta of 1.18. The stock has a fifty day simple moving average of $73.03 and a two-hundred day simple moving average of $63.82. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on WFC. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & 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.