Usca Ria LLC Has $9.24 Million Stock Position in Wells Fargo & Co (NYSE:WFC)

Usca Ria LLC trimmed its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 8.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 171,806 shares of the financial services provider’s stock after selling 15,205 shares during the period. Wells Fargo & Co makes up approximately 0.8% of Usca Ria LLC’s investment portfolio, making the stock its 22nd largest position. Usca Ria LLC’s holdings in Wells Fargo & Co were worth $9,243,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new position in Wells Fargo & Co in the third quarter valued at about $25,000. NuWave Investment Management LLC grew its stake in Wells Fargo & Co by 122.3% in the third quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 439 shares in the last quarter. MV Capital Management Inc. grew its stake in Wells Fargo & Co by 49.3% in the third quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 265 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Wells Fargo & Co in the third quarter valued at about $42,000. Finally, Birch Capital Management LLC purchased a new position in Wells Fargo & Co in the fourth quarter valued at about $46,000. 75.63% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on WFC shares. Argus upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, September 30th. Morgan Stanley decreased their price target on Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada downgraded Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $48.00 to $42.00 in a research note on Thursday, January 16th. BMO Capital Markets reiterated a “market perform” rating and set a $53.00 price target on shares of Wells Fargo & Co in a research note on Wednesday, January 15th. Finally, Barclays downgraded Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price target for the company. in a research note on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.88.

Shares of NYSE:WFC opened at $47.19 on Monday. The business has a 50 day moving average price of $52.51 and a 200 day moving average price of $50.05. Wells Fargo & Co has a twelve month low of $43.34 and a twelve month high of $54.75. The company has a market cap of $201.19 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.08 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.37.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The business had revenue of $19.86 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the company earned $1.21 EPS. Wells Fargo & Co’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Co will post 4.12 EPS for the current year.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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