Wells Fargo & Co (WFC) Holdings Reduced by Pennsylvania Trust Co

Pennsylvania Trust Co reduced its position in Wells Fargo & Co (NYSE:WFC) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,955 shares of the financial services provider’s stock after selling 8,824 shares during the period. Pennsylvania Trust Co’s holdings in Wells Fargo & Co were worth $6,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Capital International Investors grew its stake in Wells Fargo & Co by 270.1% in the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock worth $4,718,587,000 after acquiring an additional 65,517,025 shares during the period. Primecap Management Co. CA grew its stake in Wells Fargo & Co by 47.1% in the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock worth $2,024,201,000 after acquiring an additional 12,337,098 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Wells Fargo & Co in the 2nd quarter worth approximately $321,220,000. OppenheimerFunds Inc. grew its stake in Wells Fargo & Co by 1,283.4% in the 3rd quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock worth $162,264,000 after acquiring an additional 2,864,065 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new stake in Wells Fargo & Co in the 2nd quarter worth approximately $118,780,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

NYSE:WFC opened at $47.67 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market cap of $236.18 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.87 and a beta of 1.10. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.02. The business had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.80 billion. Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. Sell-side analysts forecast that Wells Fargo & Co will post 4.49 EPS for the current year.

Wells Fargo & Co declared that its board has authorized a stock buyback plan on Tuesday, October 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

WFC has been the subject of several research reports. Robert W. Baird reissued a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & Co in a research note on Wednesday, January 2nd. Nomura lowered their price objective on shares of Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, October 15th. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the company a “buy” rating in a research note on Friday, September 28th. Citigroup raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $61.93.

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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.

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

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