Peak Asset Management LLC decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 100,861 shares of the financial services provider’s stock after selling 4,516 shares during the period. Wells Fargo & Co comprises 1.7% of Peak Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Peak Asset Management LLC’s holdings in Wells Fargo & Co were worth $4,648,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Athena Capital Advisors LLC purchased a new stake in shares of Wells Fargo & Co during the fourth quarter valued at approximately $42,000. Mercer Capital Advisers Inc. raised its position in Wells Fargo & Co by 81.3% in the fourth quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 525 shares during the period. SevenBridge Financial Group LLC raised its position in Wells Fargo & Co by 500.0% in the fourth quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Wells Fargo & Co by 72.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,405 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 590 shares during the period. Finally, Financial Gravity Companies Inc. bought a new position in Wells Fargo & Co in the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 72.19% of the company’s stock.

Several research firms have weighed in on WFC. Deutsche Bank downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and decreased their price target for the stock from $56.00 to $54.00 in a research report on Friday, March 29th. BMO Capital Markets decreased their price target on shares of Wells Fargo & Co from $65.00 to $63.00 and set a “market perform” rating on the stock in a research report on Monday. Robert W. Baird reiterated a “buy” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Morgan Stanley decreased their price objective on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods downgraded shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $58.00 to $50.00 in a research report on Sunday, March 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Wells Fargo & Co has an average rating of “Hold” and an average target price of $56.35.

Shares of NYSE:WFC opened at $47.58 on Friday. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53. The firm has a market capitalization of $231.94 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.87.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. The business had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $20.89 billion. During the same period last year, the company posted $0.96 EPS. As a group, research analysts expect that Wells Fargo & Co will post 4.84 EPS for the current fiscal year.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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