Monte Financial Group LLC Sells 3,523 Shares of Wells Fargo & Company (NYSE:WFC)

Monte Financial Group LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,414 shares of the financial services provider’s stock after selling 3,523 shares during the quarter. Wells Fargo & Company makes up 3.7% of Monte Financial Group LLC’s portfolio, making the stock its biggest holding. Monte Financial Group LLC’s holdings in Wells Fargo & Company were worth $8,669,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 0.3 %

Wells Fargo & Company stock opened at $77.23 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The firm’s 50-day moving average is $73.19 and its 200-day moving average is $64.04. The company has a market cap of $257.13 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18.

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

Wells Fargo & Company 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.