Wells Fargo & Company (NYSE:WFC) Stake Lessened by Bridge Creek Capital Management LLC

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Bridge Creek Capital Management LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 49.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,801 shares of the financial services provider’s stock after selling 12,750 shares during the period. Bridge Creek Capital Management LLC’s holdings in Wells Fargo & Company were worth $301,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hoover Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $37,000. Watson Rebecca acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $37,000. Selective Wealth Management Inc. lifted its stake in Wells Fargo & Company by 227.2% during the second quarter. Selective Wealth Management Inc. now owns 1,623 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,127 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in Wells Fargo & Company by 41.4% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,867 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 547 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its stake in Wells Fargo & Company by 27.0% during the third quarter. Pacifica Partners Inc. now owns 1,883 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 67.25% of the company’s stock.

Several analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Wells Fargo & Company to a “sell” rating in a research note on Wednesday, July 15th. Robert W. Baird raised shares of Wells Fargo & Company from a “neutral” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Friday, July 10th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Royal Bank of Canada reissued a “sell” rating and set a $25.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, September 23rd. Finally, Barclays reduced their price target on shares of Wells Fargo & Company from $40.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.98.

Shares of NYSE:WFC traded down $0.09 during midday trading on Friday, reaching $22.86. 43,141,248 shares of the company’s stock were exchanged, compared to its average volume of 41,721,547. The company’s 50 day simple moving average is $24.35 and its two-hundred day simple moving average is $25.96. The firm has a market capitalization of $94.18 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 125.04 and a beta of 1.08. Wells Fargo & Company has a 12 month low of $22.00 and a 12 month high of $54.75. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.86 and a current ratio of 0.88.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Wells Fargo & Company had a net margin of 6.26% and a return on equity of 4.33%. The firm had revenue of $18.86 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 0.02 earnings per share for the current year.

Wells Fargo & Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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