Breiter Capital Management Inc. Has $455,000 Position in Wells Fargo & Co (NYSE:WFC)

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Breiter Capital Management Inc. reduced its stake in shares of Wells Fargo & Co (NYSE:WFC) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,457 shares of the financial services provider’s stock after selling 614 shares during the quarter. Breiter Capital Management Inc.’s holdings in Wells Fargo & Co were worth $455,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. City Holding Co. boosted its holdings in Wells Fargo & Co by 1.3% in the third quarter. City Holding Co. now owns 63,141 shares of the financial services provider’s stock valued at $3,184,000 after acquiring an additional 816 shares during the last quarter. Hedeker Wealth LLC boosted its holdings in Wells Fargo & Co by 3.6% in the third quarter. Hedeker Wealth LLC now owns 23,001 shares of the financial services provider’s stock valued at $1,160,000 after acquiring an additional 801 shares during the last quarter. MACRO Consulting Group boosted its holdings in Wells Fargo & Co by 1.9% in the third quarter. MACRO Consulting Group now owns 33,498 shares of the financial services provider’s stock valued at $1,686,000 after acquiring an additional 624 shares during the last quarter. Violich Capital Management Inc. boosted its holdings in Wells Fargo & Co by 7.6% in the third quarter. Violich Capital Management Inc. now owns 28,275 shares of the financial services provider’s stock valued at $1,426,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Lantz Financial LLC boosted its holdings in Wells Fargo & Co by 23.3% in the third quarter. Lantz Financial LLC now owns 19,539 shares of the financial services provider’s stock valued at $947,000 after acquiring an additional 3,697 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Several research firms recently issued reports on WFC. Barclays cut Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price target on the stock. in a report on Monday, January 6th. Piper Sandler cut Wells Fargo & Co from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $60.00 to $52.00 in a report on Wednesday, January 15th. Royal Bank of Canada cut Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $48.00 to $42.00 in a report on Thursday, January 16th. Morgan Stanley decreased their price target on Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Finally, Robert W. Baird lowered Wells Fargo & Co from a “neutral” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research note on Thursday, January 2nd. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.88.

NYSE:WFC opened at $48.22 on Friday. Wells Fargo & Co has a 1-year low of $43.34 and a 1-year high of $54.75. The business’s 50-day moving average price is $52.63 and its two-hundred day moving average price is $50.05. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $206.98 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.11 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The company had revenue of $19.86 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the previous year, the company posted $1.21 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Co will post 4.12 earnings per share for the current year.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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