White Pine Capital LLC Sells 3,097 Shares of Wells Fargo & Company (NYSE:WFC)

White Pine Capital LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,427 shares of the financial services provider’s stock after selling 3,097 shares during the period. Wells Fargo & Company accounts for about 0.8% of White Pine Capital LLC’s holdings, making the stock its 28th largest holding. White Pine Capital LLC’s holdings in Wells Fargo & Company were worth $2,187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Northern Trust Corp raised its position in shares of Wells Fargo & Company by 0.3% in the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Wells Fargo & Company by 2.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after acquiring an additional 221,459 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Wells Fargo & Company by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock worth $290,234,000 after acquiring an additional 1,156,106 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WFC. Jefferies Financial Group increased their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI raised their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.02 on Friday, reaching $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The stock has a market cap of $212.11 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. 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 company has a 50 day simple moving average of $56.93 and a 200 day simple moving average of $49.56.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for 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 period last year, the business posted $1.23 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current year.

About Wells Fargo & Company

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.