PDS Planning Inc Cuts Holdings in Wells Fargo & Company (NYSE:WFC)

PDS Planning Inc reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.7% in the 4th quarter, HoldingsChannel reports. The fund owned 7,825 shares of the financial services provider’s stock after selling 1,141 shares during the quarter. PDS Planning Inc’s holdings in Wells Fargo & Company were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Summit Global Investments boosted its position in shares of Wells Fargo & Company by 6.3% during the 3rd quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 343 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $34,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 30.0% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,194 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 2,350 shares in the last quarter. BTC Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 0.7% during the 3rd quarter. BTC Capital Management Inc. now owns 155,788 shares of the financial services provider’s stock worth $6,365,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE boosted its position in shares of Wells Fargo & Company by 1.1% during the 3rd quarter. Lawson Kroeker Investment Management Inc. NE now owns 74,614 shares of the financial services provider’s stock worth $3,049,000 after acquiring an additional 828 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Barclays upped their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Raymond James upped their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.51 during mid-day trading on Tuesday, hitting $61.61. The stock had a trading volume of 6,089,617 shares, compared to its average volume of 18,840,104. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The company has a market cap of $218.12 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.17 and a beta of 1.19. The company has a 50 day simple moving average of $56.12 and a 200 day simple moving average of $49.12. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the business posted $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

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.