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

Transcend Capital Advisors LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.3% in the 4th quarter, HoldingsChannel reports. The firm 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 Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Northern Trust Corp increased its position in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after purchasing an additional 129,300 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Wells Fargo & Company by 2.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after purchasing an additional 221,459 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Wells Fargo & Company by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock valued at $290,234,000 after purchasing an additional 1,156,106 shares during the last quarter. Finally, Nordea Investment Management AB increased its position 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 valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Barclays lifted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Price Performance

NYSE WFC traded down $0.02 during trading hours on Friday, hitting $59.91. The company had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The firm has a 50 day simple moving average of $56.93 and a 200 day simple moving average of $49.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $212.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19.

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

Wells Fargo & Company 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.