Wells Fargo & Company (NYSE:WFC) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,350 shares of the financial services provider’s stock after selling 450 shares during the quarter. Tributary Capital Management LLC’s holdings in Wells Fargo & Company were worth $727,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Two Sigma Advisers LP lifted its position in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Canoe Financial LP purchased a new stake in shares of Wells Fargo & Company during the third quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Wells Fargo & Company by 158.1% during the 3rd 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 lifted its stake in Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Finally, National Pension Service increased its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $77.23 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The stock’s 50-day moving average price is $73.19 and its 200 day moving average price is $64.04. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WFC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.