Tributary Capital Management LLC Trims Stake in Wells Fargo & Company (NYSE:WFC)

Tributary Capital Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the financial services provider’s stock after selling 500 shares during the quarter. Tributary Capital Management LLC’s holdings in Wells Fargo & Company were worth $221,000 at the end of the most recent reporting period.

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

Shares of WFC opened at $23.25 on Thursday. The stock’s 50-day moving average is $24.40 and its two-hundred day moving average is $26.04. The stock has a market cap of $95.79 billion, a PE ratio of 26.72, a P/E/G 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 current ratio of 0.88 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Saturday, October 17th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Wells Fargo & Company had a return on equity of 4.33% and a net margin of 6.26%. The business had revenue of $18.86 billion for the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 0.02 earnings per share for the current year.

A number of brokerages have recently issued reports on WFC. ValuEngine lowered Wells Fargo & Company from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. Oppenheimer reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Odeon Capital Group raised Wells Fargo & Company from a “hold” rating to a “buy” rating in a research note on Wednesday, September 2nd. Robert W. Baird raised Wells Fargo & Company from a “neutral” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Friday, July 10th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and upped their price target for the stock from $31.00 to $34.00 in a report on Monday, September 14th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company. Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $31.21.

Wells Fargo & Company 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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