Wells Fargo & Company (NYSE:WFC) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,854 shares of the financial services provider’s stock after selling 2,123 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Wells Fargo & Company were worth $2,518,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP raised its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $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 during the third quarter valued at about $160,529,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings 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 period. Artemis Investment Management LLP lifted its stake in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares during the period. Finally, National Pension Service lifted its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.3 %

Wells Fargo & Company stock opened at $77.23 on Monday. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. The firm has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm’s fifty day moving average price is $73.19 and its two-hundred day moving average price is $64.07. 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 announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WFC shares. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price 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.