Wells Fargo & Co (WFC) Holdings Raised by Baker Avenue Asset Management LP

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Baker Avenue Asset Management LP boosted its position in Wells Fargo & Co (NYSE:WFC) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,539 shares of the financial services provider’s stock after acquiring an additional 952 shares during the period. Baker Avenue Asset Management LP’s holdings in Wells Fargo & Co were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFC. Summit Financial Strategies Inc. bought a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $209,000. Burt Wealth Advisors boosted its stake in shares of Wells Fargo & Co by 18.7% during the 4th quarter. Burt Wealth Advisors now owns 6,192 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 977 shares in the last quarter. Stumpf Capital Management LLC bought a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $74,911,000. Wealthfront Inc. boosted its stake in shares of Wells Fargo & Co by 15.7% during the 4th quarter. Wealthfront Inc. now owns 111,797 shares of the financial services provider’s stock valued at $6,783,000 after purchasing an additional 15,205 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $24,268,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wells Fargo & Co stock opened at $55.89 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $269.45 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.49 and a beta of 1.14. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo & Co had a net margin of 22.80% and a return on equity of 12.46%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. research analysts predict that Wells Fargo & Co will post 4.57 EPS for the current year.

In other news, EVP Petros G. Pelos sold 25,567 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

WFC has been the topic of a number of research reports. Vetr raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 target price on the stock in a research note on Thursday, April 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 target price on shares of Wells Fargo & Co in a research note on Thursday, April 5th. UBS Group raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, April 5th. Zacks Investment Research lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Monday, April 9th. Finally, Vining Sparks reissued a “buy” rating and set a $65.00 price objective on shares of Wells Fargo & Co in a research note on Friday, April 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.96.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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