The Riverbridge Partners LLC Has $313,000 Stake in Wells Fargo & Company (WFC)

The Riverbridge Partners LLC Has $313,000 Stake in Wells Fargo & Company (WFC)

Riverbridge Partners LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 51.0% during the third quarter, Holdings Channel reports. The firm owned 7,066 shares of the financial services provider’s stock after selling 7,342 shares during the period. Riverbridge Partners LLC’s holdings in Wells Fargo & Company were worth $313,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Catawba Capital Management VA increased its position in Wells Fargo & Company by 0.4% in the second quarter. Catawba Capital Management VA now owns 105,545 shares of the financial services provider’s stock valued at $4,995,000 after buying an additional 434 shares during the period. First National Bank of Omaha increased its position in Wells Fargo & Company by 93.3% in the second quarter. First National Bank of Omaha now owns 189,536 shares of the financial services provider’s stock valued at $8,971,000 after buying an additional 91,507 shares during the period. BLB&B Advisors LLC increased its position in Wells Fargo & Company by 7.7% in the second quarter. BLB&B Advisors LLC now owns 54,028 shares of the financial services provider’s stock valued at $2,557,000 after buying an additional 3,853 shares during the period. Eagle Asset Management Inc. increased its position in Wells Fargo & Company by 0.6% in the second quarter. Eagle Asset Management Inc. now owns 1,796,385 shares of the financial services provider’s stock valued at $85,022,000 after buying an additional 11,509 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services increased its position in Wells Fargo & Company by 4.7% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 72,597 shares of the financial services provider’s stock valued at $3,436,000 after buying an additional 3,288 shares during the period. 72.57% of the stock is owned by institutional investors.

Wells Fargo & Company (NYSE:WFC) traded up 0.91% during trading on Wednesday, hitting $54.27. 21,186,749 shares of the company’s stock were exchanged. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $58.02. The firm has a market cap of $272.22 billion, a price-to-earnings ratio of 13.60 and a beta of 0.99. The company’s 50-day moving average price is $55.27 and its 200 day moving average price is $49.51.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, January 13th. The financial services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The company earned $21.60 billion during the quarter. Wells Fargo & Company had a return on equity of 12.60% and a net margin of 23.30%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Equities analysts forecast that Wells Fargo & Company will post $4.19 earnings per share for the current fiscal year.

Several brokerages have commented on WFC. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & Company in a report on Friday, December 23rd. Vetr downgraded shares of Wells Fargo & Company from a “sell” rating to a “strong sell” rating and set a $48.64 price target for the company. in a report on Monday, December 26th. Guggenheim downgraded shares of Wells Fargo & Company from a “neutral” rating to a “sell” rating in a report on Tuesday, December 13th. Rafferty Capital Markets raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Tuesday, December 6th. Finally, Zacks Investment Research raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Thursday, December 29th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the company’s stock. Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $51.57.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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