Wells Fargo & Company (NYSE:WFC) Stock Position Lessened by Asio Capital LLC

Asio Capital LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors have also bought and sold shares of the stock. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $77.23 on Friday. The firm has a 50 day moving average of $73.19 and a two-hundred day moving average of $64.04. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The company has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WFC shares. Evercore ISI upped 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. 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 presently has an average rating of “Hold” and a consensus price target of $73.39.

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.