MinichMacGregor Wealth Management LLC Acquires 677 Shares of Wells Fargo & Company (NYSE:WFC)

MinichMacGregor Wealth Management LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.2% during the fourth quarter, HoldingsChannel reports. The fund owned 4,845 shares of the financial services provider’s stock after acquiring an additional 677 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Wells Fargo & Company were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $77.56 on Thursday. The company has a 50 day moving average price of $73.03 and a 200 day moving average price of $63.82. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $258.23 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.