Northern Trust Corp Purchases 449,328 Shares of Wells Fargo & Co (WFC)

Northern Trust Corp lifted its position in Wells Fargo & Co (NYSE:WFC) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,682,537 shares of the financial services provider’s stock after acquiring an additional 449,328 shares during the quarter. Wells Fargo & Co accounts for approximately 0.7% of Northern Trust Corp’s investment portfolio, making the stock its 25th largest holding. Northern Trust Corp owned approximately 1.08% of Wells Fargo & Co worth $2,427,611,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WFC. Olstein Capital Management L.P. increased its stake in shares of Wells Fargo & Co by 3.6% in the 4th quarter. Olstein Capital Management L.P. now owns 142,900 shares of the financial services provider’s stock worth $6,585,000 after acquiring an additional 4,900 shares during the last quarter. M3F Inc. acquired a new position in Wells Fargo & Co during the fourth quarter worth approximately $4,631,000. Ruggie Capital Group acquired a new position in Wells Fargo & Co during the fourth quarter worth approximately $80,000. Summit Wealth & Retirement Planning Inc. acquired a new position in Wells Fargo & Co during the fourth quarter worth approximately $273,000. Finally, First Bank & Trust increased its position in Wells Fargo & Co by 1.2% during the fourth quarter. First Bank & Trust now owns 23,961 shares of the financial services provider’s stock worth $1,104,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 72.22% of the company’s stock.

Several research firms have commented on WFC. ValuEngine lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $58.00 to $50.00 in a research report on Sunday. Raymond James raised Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price target on the stock in a research report on Friday. Deutsche Bank lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and cut their price target for the stock from $56.00 to $54.00 in a research report on Friday. Finally, Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.67.

Shares of WFC stock opened at $48.81 on Tuesday. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $59.53. The company has a market capitalization of $235.69 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.87 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The company had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.80 billion. During the same period last year, the business posted $1.16 EPS. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Co will post 4.96 EPS for the current year.

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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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