Transcend Capital Advisors LLC Sells 2,738 Shares of Wells Fargo & Company (NYSE:WFC)

Transcend Capital Advisors LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,862 shares of the financial services provider’s stock after selling 2,738 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $2,405,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of WFC. Panagora Asset Management Inc. increased its stake in Wells Fargo & Company by 131.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after purchasing an additional 1,958,483 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after acquiring an additional 1,549,979 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $54,894,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after acquiring an additional 1,166,000 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.02 during mid-day trading on Friday, hitting $59.91. 18,785,900 shares of the company’s stock traded hands, compared to its average volume of 18,078,044. The firm has a 50 day simple moving average of $56.93 and a two-hundred day simple moving average of $49.63. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The stock has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Piper Sandler decreased their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Evercore ISI raised their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

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