Get ready for correction: Bank of America Corp (NYSE:BAC) and Wells Fargo & Co (NYSE:WFC)

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Factory Mutual Insurance Co. trimmed its holdings in Wells Fargo & Co (NYSE:WFC) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,507,339 shares of the financial services provider’s stock after selling 20,600 shares during the period. Factory Mutual Insurance Co.’s holdings in Wells Fargo & Co were worth $43,262,000 at the end of the most recent quarter.

Shares of WFC opened at $26.89 on Friday. The stock has a fifty day simple moving average of $32.38 and a two-hundred day simple moving average of $46.50. Wells Fargo & Co has a 1-year low of $25.10 and a 1-year high of $54.75. The firm has a market cap of $123.42 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.64 and a beta of 1.35. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47.

Factory Mutual Insurance Co. reduced its holdings in shares of Bank of America Corp (NYSE:BAC) by 9.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,891,162 shares of the financial services provider’s stock after selling 298,800 shares during the quarter. Bank of America accounts for about 1.2% of Factory Mutual Insurance Co.’s holdings, making the stock its 22nd biggest holding. Factory Mutual Insurance Co.’s holdings in Bank of America were worth $61,379,000 as of its most recent SEC filing.

NYSE BAC opened at $21.42 on Friday and surged to $23 qat mid-day trading. The business’s fifty day moving average price is $23.53 and its 200-day moving average price is $30.66. The stock has a market capitalization of $193.60 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.79 and a beta of 1.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.92 and a quick ratio of 0.90. Bank of America Corp has a 1-year low of $17.95 and a 1-year high of $35.72.