Asio Capital LLC Sells 15,230 Shares of Wells Fargo & Company (NYSE:WFC)

Asio Capital LLC trimmed its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,760 shares of the financial services provider's stock after selling 15,230 shares during the period. Asio Capital LLC's holdings in Wells Fargo & Company were worth $3,425,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Quad Cities Investment Group LLC lifted its holdings in shares of Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp raised its holdings in Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock worth $760,000 after acquiring an additional 160 shares in the last quarter. Ellenbecker Investment Group raised its holdings in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after acquiring an additional 164 shares in the last quarter. Income Research & Management bought a new stake in Wells Fargo & Company during the third quarter worth about $211,000. Finally, Modera Wealth Management LLC raised its holdings in Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider's stock worth $1,018,000 after acquiring an additional 167 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.20 during trading hours on Friday, reaching $77.23. 10,392,498 shares of the company were exchanged, compared to its average volume of 12,467,391. The company has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. 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 business has a 50 day moving average of $73.19 and a 200 day moving average of $64.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for 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%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Wolfe Research raised 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. Finally, The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Eleven 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, the company currently has an average rating of "Hold" and a consensus 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.