Stonebridge Capital Management Inc. raised its stake in shares of Wells Fargo & Co (NYSE:WFC) by 199.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,251 shares of the financial services provider’s stock after purchasing an additional 7,500 shares during the period. Stonebridge Capital Management Inc.’s holdings in Wells Fargo & Co were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 20 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its holdings in shares of Wells Fargo & Co by 0.5% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 26 shares during the last quarter. Financial Advisory Group lifted its holdings in shares of Wells Fargo & Co by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 35 shares during the last quarter. Finally, Financial Advisory Service Inc. lifted its holdings in shares of Wells Fargo & Co by 0.6% in the 2nd quarter. Financial Advisory Service Inc. now owns 7,067 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 42 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on WFC. Vetr lowered shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price objective on the stock. in a research report on Monday. Vining Sparks reissued a “buy” rating and issued a $75.00 price objective on shares of Wells Fargo & Co in a research report on Monday. BMO Capital Markets reissued a “hold” rating and issued a $59.00 price objective on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Sanford C. Bernstein raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Finally, Barclays increased their price objective on shares of Wells Fargo & Co from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.27.

Wells Fargo & Co (NYSE WFC) opened at $62.04 on Tuesday. The company has a market cap of $305,730.00, a P/E ratio of 16.03, a PEG ratio of 1.72 and a beta of 0.96. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $63.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. research analysts anticipate that Wells Fargo & Co will post 3.98 EPS for the current year.

In related news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “Stonebridge Capital Management Inc. Grows Holdings in Wells Fargo & Co (WFC)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/stonebridge-capital-management-inc-grows-holdings-in-wells-fargo-co-wfc/1799631.html.

About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with Analyst Ratings Network's FREE daily email newsletter.