Stockman Wealth Management Inc. Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Stockman Wealth Management Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 17.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,689 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Financial Corp IN grew its holdings in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares during the last quarter. CX Institutional grew its holdings in shares of Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares during the last quarter. Prio Wealth Limited Partnership grew its holdings in shares of Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 244 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.5 %

Wells Fargo & Company stock traded up $0.28 during trading hours on Tuesday, hitting $61.38. The stock had a trading volume of 9,312,072 shares, compared to its average volume of 18,876,555. The stock’s 50-day moving average price is $56.12 and its 200-day moving average price is $49.12. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The stock has a market capitalization of $217.31 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFC. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Raymond James raised their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Morgan Stanley raised their price target 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. Citigroup reissued a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Finally, Compass Point reaffirmed a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & 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.