Monte Financial Group LLC Has $8.67 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Monte Financial Group LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,414 shares of the financial services provider's stock after selling 3,523 shares during the period. Wells Fargo & Company comprises approximately 3.7% of Monte Financial Group LLC's investment portfolio, making the stock its biggest position. Monte Financial Group LLC's holdings in Wells Fargo & Company were worth $8,669,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of WFC. Two Sigma Advisers LP increased its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the third quarter worth $160,529,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently 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 objective on the stock in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted 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 note on Friday, December 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.20 during mid-day trading on Friday, reaching $77.23. 10,392,498 shares of the stock traded hands, compared to its average volume of 12,467,391. The firm has a fifty day moving average price of $73.19 and a 200 day moving average price of $64.04. The company has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly 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 firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

About Wells Fargo & Company

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.