Wellington Shields & Co. LLC Takes $410,000 Position in Wells Fargo & Co (WFC)

Wellington Shields & Co. LLC bought a new position in shares of Wells Fargo & Co (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,897 shares of the financial services provider’s stock, valued at approximately $410,000.

Several other hedge funds have also made changes to their positions in the company. Athena Capital Advisors LLC bought a new position in shares of Wells Fargo & Co during the 4th quarter worth approximately $42,000. Mercer Capital Advisers Inc. lifted its holdings in Wells Fargo & Co by 81.3% during the 4th quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 525 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Wells Fargo & Co by 72.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,405 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 590 shares during the last quarter. Ruggie Capital Group acquired a new stake in Wells Fargo & Co during the 4th quarter worth approximately $80,000. Finally, Financial Gravity Companies Inc. acquired a new stake in Wells Fargo & Co during the 4th quarter worth approximately $82,000. Institutional investors own 72.19% of the company’s stock.

Several brokerages have weighed in on WFC. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Raymond James raised Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price target for the company in a report on Friday, March 29th. Deutsche Bank cut Wells Fargo & Co from a “buy” rating to a “hold” rating and lowered their price target for the stock from $56.00 to $54.00 in a report on Friday, March 29th. Keefe, Bruyette & Woods cut Wells Fargo & Co from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $58.00 to $50.00 in a report on Sunday, March 31st. Finally, Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and an average target price of $56.35.

WFC stock traded up $0.03 during trading on Friday, reaching $47.58. 22,416,772 shares of the stock were exchanged, compared to its average volume of 29,188,278. The company has a market cap of $232.08 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.11. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $59.53. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $21.61 billion during the quarter, compared to the consensus estimate of $20.89 billion. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts predict that Wells Fargo & Co will post 4.77 earnings per share for the current year.

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Wells Fargo & Co 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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