Mountain Pacific Investment Advisers LLC Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mountain Pacific Investment Advisers LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,698 shares of the financial services provider’s stock after selling 434 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Wells Fargo & Company were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after buying an additional 11,037 shares during the period. Rockefeller Capital Management L.P. raised its position in Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp lifted its stake in shares of Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. increased its position in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.22 on Tuesday. The company has a market cap of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The firm has a fifty day moving average price of $72.74 and a 200 day moving average price of $63.48. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & 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.