White Pine Capital LLC Lowers Stake in Wells Fargo & Company (NYSE:WFC)

White Pine Capital LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 44,427 shares of the financial services provider’s stock after selling 3,097 shares during the period. Wells Fargo & Company accounts for 0.8% of White Pine Capital LLC’s holdings, making the stock its 28th biggest position. White Pine Capital LLC’s holdings in Wells Fargo & Company were worth $2,187,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WFC. Panagora Asset Management Inc. lifted its holdings in Wells Fargo & Company by 131.0% during the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after buying an additional 1,958,483 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after purchasing an additional 1,549,979 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $54,894,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock valued at $174,078,000 after purchasing an additional 1,166,000 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded down $0.02 during trading on Friday, hitting $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The stock has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. The company’s 50-day moving average price is $56.93 and its two-hundred day moving average price is $49.56.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share 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 business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company posted $1.23 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WFC shares. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. Finally, Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company 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.