Mutual Advisors LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mutual Advisors LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 27.5% in the fourth quarter, HoldingsChannel reports. The firm owned 24,198 shares of the financial services provider’s stock after buying an additional 5,217 shares during the period. Mutual Advisors LLC’s holdings in Wells Fargo & Company were worth $1,838,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cardinal Capital Management Inc. grew its holdings in shares of Wells Fargo & Company by 2.0% in the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after purchasing an additional 11,037 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares during the period. Atlantic Union Bankshares Corp boosted its stake in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares during the period. Chartwell Investment Partners LLC boosted its stake in Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after buying an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. boosted its stake in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.3 %

WFC stock opened at $77.23 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The company’s 50 day moving average is $73.13 and its two-hundred day moving average is $63.92. The stock has a market cap of $257.13 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

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.