Wells Fargo & Company (NYSE:WFC) Shares Sold by Oldfather Financial Services LLC

Oldfather Financial Services LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,782 shares of the financial services provider’s stock after selling 827 shares during the period. Wells Fargo & Company accounts for approximately 0.6% of Oldfather Financial Services LLC’s holdings, making the stock its 24th biggest position. Oldfather Financial Services LLC’s holdings in Wells Fargo & Company were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pacifica Partners Inc. raised its stake in shares of Wells Fargo & Company by 27.0% in the 3rd quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock worth $44,000 after buying an additional 400 shares in the last quarter. Cahill Financial Advisors Inc. grew its holdings in Wells Fargo & Company by 5.2% during the second quarter. Cahill Financial Advisors Inc. now owns 8,294 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 413 shares during the period. Westhampton Capital LLC raised its position in Wells Fargo & Company by 5.3% in the second quarter. Westhampton Capital LLC now owns 8,880 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 444 shares in the last quarter. Sterneck Capital Management LLC raised its position in Wells Fargo & Company by 1.1% in the third quarter. Sterneck Capital Management LLC now owns 41,773 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 454 shares in the last quarter. Finally, Buckhead Capital Management LLC boosted its position in shares of Wells Fargo & Company by 0.9% during the 2nd quarter. Buckhead Capital Management LLC now owns 50,639 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 465 shares in the last quarter. Institutional investors and hedge funds own 67.25% of the company’s stock.

A number of analysts recently commented on the stock. UBS Group upgraded shares of Wells Fargo & Company from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $24.00 in a report on Friday, September 11th. Atlantic Securities upgraded Wells Fargo & Company from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $30.00 in a research report on Wednesday, July 22nd. Morgan Stanley decreased their target price on Wells Fargo & Company from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. ValuEngine downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Evercore ISI raised Wells Fargo & Company from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $26.00 to $27.00 in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.98.

Shares of NYSE:WFC opened at $22.86 on Friday. The firm has a fifty day moving average of $24.35 and a two-hundred day moving average of $25.96. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.45. Wells Fargo & Company has a 12-month low of $22.00 and a 12-month high of $54.75. The firm has a market capitalization of $94.18 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 125.04 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Wells Fargo & Company had a net margin of 6.26% and a return on equity of 4.33%. The firm had revenue of $18.86 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same period in the previous year, the business posted $0.92 EPS. Wells Fargo & Company’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 0.02 earnings per share for the current fiscal year.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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