Wells Fargo & Company (NYSE:WFC): Stock Institutional Investors Like

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Sentiment for Wells Fargo & Company (NYSE:WFC)

Wells Fargo & Company (NYSE:WFC) institutional sentiment increased to 0.86 in 2019 Q1. Its up 0.33, from 0.53 in 2018Q4. The ratio has improved, as 579 hedge funds increased and opened new positions, while 675 sold and trimmed stock positions in Wells Fargo & Company. The hedge funds in our partner’s database reported: 3.29 billion shares, down from 3.41 billion shares in 2018Q4. Also, the number of hedge funds holding Wells Fargo & Company in their top 10 positions decreased from 91 to 77 for a decrease of 14. Sold All: 54 Reduced: 621 Increased: 455 New Position: 124.

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company has market cap of $207.95 billion. The Company’s Community Banking segment offers checking, savings, market rate, and individual retirement accounts, as well as time deposits and remittances; and lines of credit, automobile floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards. It has a 10.24 P/E ratio. This segment also provides equipment leases, real estate and other commercial financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, merchant payment processing, and private label financing solutions, as well as purchases retail installment contracts.

The stock increased 1.40% or $0.64 during the last trading session, reaching $46.27. About 14.68 million shares traded. Wells Fargo & Company (NYSE:WFC) has declined 15.86% since June 11, 2018 and is downtrending. It has underperformed by 20.29% the S&P500.

Analysts await Wells Fargo & Company (NYSE:WFC) to report earnings on July, 14 before the open. They expect $1.17 earnings per share, up 8.33 % or $0.09 from last year’s $1.08 per share. WFC’s profit will be $5.26 billion for 9.89 P/E if the $1.17 EPS becomes a reality. After $1.20 actual earnings per share reported by Wells Fargo & Company for the previous quarter, Wall Street now forecasts -2.50 % negative EPS growth.

Daily Journal Corp holds 52.09% of its portfolio in Wells Fargo & Company for 1.59 million shares. Theleme Partners Llp owns 10.33 million shares or 29.79% of their US portfolio. Moreover, American Assets Inc has 23.22% invested in the company for 1.75 million shares. The Delaware-based Brandywine Trust Co has invested 12.67% in the stock. Berkshire Hathaway Inc, a Nebraska-based fund reported 409.80 million shares.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Ratings analysis reveals 14% of Wells Fargo’s analysts are positive. Out of 7 Wall Street analysts rating Wells Fargo, 1 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $4600 while the high is $63. The stock’s average target of $53.83 is 16.34% above today’s ($46.27) share price. WFC was included in 17 notes of analysts from January 2, 2019. As per Wednesday, January 2, the company rating was upgraded by RBC Capital Markets. Deutsche Bank downgraded it to “Hold” rating and $54 target in Friday, March 29 report. The firm has “Overweight” rating given on Monday, April 15 by Barclays Capital. The firm has “Market Perform” rating given on Monday, April 15 by BMO Capital Markets. The firm has “Hold” rating by Deutsche Bank given on Tuesday, May 21. As per Monday, April 1, the company rating was downgraded by Wood. The rating was maintained by Morgan Stanley on Monday, April 15 with “Equal-Weight”. On Monday, April 15 the stock rating was downgraded by Buckingham Research to “Neutral”. Deutsche Bank maintained Wells Fargo & Company (NYSE:WFC) on Monday, April 15 with “Hold” rating.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Benzinga.com which released: “Wells Fargo Reports Q1 Earnings Beat, Stock Ticks Higher – Benzinga” on April 12, 2019, also Benzinga.com with their article: “Wells Fargo Shares Trade Up As CEO Sloan Steps Down – Benzinga” published on March 28, 2019, Seekingalpha.com published: “Wells Fargo to shed private real estate i-banking division – Seeking Alpha” on June 11, 2019. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Businesswire.com and their article: “Wells Fargo Announces Sale of Eastdil Secured – Business Wire” published on June 11, 2019 as well as Finance.Yahoo.com‘s news article titled: “Wells Fargo (WFC) Down 1.2% Since Last Earnings Report: Can It Rebound? – Yahoo Finance” with publication date: May 12, 2019.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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