Candriam Luxembourg S.C.A. Lowers Position in Wells Fargo & Co (WFC)

Candriam Luxembourg S.C.A. reduced its position in Wells Fargo & Co (NYSE:WFC) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 477,596 shares of the financial services provider’s stock after selling 2,415 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Wells Fargo & Co were worth $22,007,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Athena Capital Advisors LLC bought a new stake in shares of Wells Fargo & Co during the fourth quarter valued at about $42,000. Mercer Capital Advisers Inc. increased its position in shares of Wells Fargo & Co by 81.3% during the fourth quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock valued at $54,000 after buying an additional 525 shares during the period. SevenBridge Financial Group LLC increased its position in shares of Wells Fargo & Co by 500.0% during the fourth quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Wells Fargo & Co by 72.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,405 shares of the financial services provider’s stock valued at $65,000 after buying an additional 590 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Wells Fargo & Co during the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 72.22% of the company’s stock.

Shares of NYSE WFC opened at $46.77 on Tuesday. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.32. The stock has a market cap of $232.86 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11.

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 the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The company had revenue of $21.61 billion during the quarter, compared to analyst estimates of $20.89 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Sell-side analysts anticipate that Wells Fargo & Co will post 4.93 EPS for the current year.

Several brokerages have recently weighed in on WFC. Morgan Stanley decreased their price target on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday. Barclays decreased their price target on Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank decreased their price target on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday. BMO Capital Markets decreased their price target on Wells Fargo & Co from $65.00 to $63.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Bank of America cut Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.45.

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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. 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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