First PREMIER Bank Sells 4,576 Shares of Wells Fargo & Company (NYSE:WFC)

First PREMIER Bank reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,539 shares of the financial services provider’s stock after selling 4,576 shares during the quarter. First PREMIER Bank’s holdings in Wells Fargo & Company were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Evergreen Capital Management LLC grew its holdings in shares of Wells Fargo & Company by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 29,378 shares of the financial services provider’s stock worth $1,745,000 after acquiring an additional 2,138 shares during the period. Mill Creek Capital Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $227,000. Point72 Hong Kong Ltd purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $7,175,000. Point72 Europe London LLP bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $11,243,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wells Fargo & Company in the second quarter worth approximately $10,187,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.4 %

Shares of WFC opened at $77.56 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $258.23 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.29. The business’s 50 day simple moving average is $73.03 and its 200-day simple moving average is $63.82.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on WFC. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.