Norden Group LLC Sells 4,134 Shares of Wells Fargo & Company (NYSE:WFC)

Norden Group LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,343 shares of the financial services provider’s stock after selling 4,134 shares during the quarter. Norden Group LLC’s holdings in Wells Fargo & Company were worth $1,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $222,000. Kestra Private Wealth Services LLC lifted its stake in shares of Wells Fargo & Company by 9.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 93,775 shares of the financial services provider’s stock worth $4,616,000 after acquiring an additional 7,848 shares during the period. Van ECK Associates Corp lifted its stake in shares of Wells Fargo & Company by 3.9% in the fourth quarter. Van ECK Associates Corp now owns 7,379,417 shares of the financial services provider’s stock worth $363,215,000 after acquiring an additional 276,297 shares during the period. Steele Capital Management Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $445,000. Finally, Greatmark Investment Partners Inc. lifted its stake in Wells Fargo & Company by 2.2% in the fourth quarter. Greatmark Investment Partners Inc. now owns 17,722 shares of the financial services provider’s stock valued at $872,000 after buying an additional 374 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on WFC shares. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Down 0.1 %

Wells Fargo & Company stock traded down $0.05 during trading on Tuesday, hitting $59.75. 9,263,565 shares of the company were exchanged, compared to its average volume of 18,946,016. The company has a market capitalization of $211.54 billion, a P/E ratio of 12.43, a PEG ratio of 1.16 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $57.09 and its 200 day moving average is $49.84. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76.

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

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.