Exchange Traded Concepts LLC Sells 28,985 Shares of Wells Fargo & Company (NYSE:WFC)

Exchange Traded Concepts LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,189 shares of the financial services provider’s stock after selling 28,985 shares during the period. Exchange Traded Concepts LLC’s holdings in Wells Fargo & Company were worth $9,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Income Research & Management purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the second quarter valued at approximately $25,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter worth $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on shares of 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, Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.3 %

WFC stock opened at $77.23 on Friday. The company has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The firm’s fifty day simple moving average is $73.13 and its 200-day simple moving average is $63.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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

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.