Wells Fargo & Company (NYSE:WFC) Shares Sold by Camden National Bank

Camden National Bank lowered its stake in Wells Fargo & Company (NYSE:WFC) by 24.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,298 shares of the financial services provider’s stock after selling 2,064 shares during the quarter. Camden National Bank’s holdings in Wells Fargo & Company were worth $253,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Csenge Advisory Group grew its stake in Wells Fargo & Company by 3.3% during the 3rd quarter. Csenge Advisory Group now owns 21,920 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 700 shares in the last quarter. Chiron Capital Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $681,000. Main Street Financial Solutions LLC grew its stake in Wells Fargo & Company by 9.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,020 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 516 shares in the last quarter. Finally, Tranquilli Financial Advisor LLC grew its stake in Wells Fargo & Company by 15.3% during the 2nd quarter. Tranquilli Financial Advisor LLC now owns 5,907 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 784 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $0.12 during mid-day trading on Tuesday, hitting $44.91. The company had a trading volume of 5,604,335 shares, compared to its average volume of 19,720,156. The firm’s 50 day simple moving average is $43.64 and its two-hundred day simple moving average is $43.66. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $171.13 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.89 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its earnings results on Friday, January 13th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WFC shares. StockNews.com started coverage on Wells Fargo & Company in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley reduced their target price on Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Piper Sandler downgraded Wells Fargo & Company from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $49.00 to $47.00 in a report on Tuesday, January 17th. Citigroup increased their target price on Wells Fargo & Company from $48.00 to $52.00 in a report on Tuesday, January 17th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and reduced their target price for the stock from $49.00 to $46.00 in a report on Tuesday, January 17th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

See Also

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

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