Wells Fargo & Company (NYSE:WFC) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% in the 4th quarter, HoldingsChannel reports. The firm owned 15,987 shares of the financial services provider’s stock after acquiring an additional 255 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WFC. AQR Capital Management LLC raised its holdings in shares of Wells Fargo & Company by 55.5% during the second quarter. AQR Capital Management LLC now owns 1,023,779 shares of the financial services provider’s stock worth $59,901,000 after purchasing an additional 365,600 shares during the last quarter. MBB Public Markets I LLC increased its holdings in Wells Fargo & Company by 1,710.7% in the second quarter. MBB Public Markets I LLC now owns 251,868 shares of the financial services provider’s stock valued at $14,958,000 after buying an additional 237,958 shares in the last quarter. Mark Asset Management LP increased its holdings in Wells Fargo & Company by 81.0% in the second quarter. Mark Asset Management LP now owns 180,359 shares of the financial services provider’s stock valued at $10,712,000 after buying an additional 80,697 shares in the last quarter. Lighthouse Investment Partners LLC increased its holdings in Wells Fargo & Company by 34.1% in the second quarter. Lighthouse Investment Partners LLC now owns 72,708 shares of the financial services provider’s stock valued at $4,318,000 after buying an additional 18,508 shares in the last quarter. Finally, Smith Thornton Advisors LLC purchased a new position in Wells Fargo & Company in the second quarter valued at $570,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.23 on Friday. The company’s 50 day simple moving average is $73.13 and its 200-day simple moving average is $63.92. The company has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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

Wells Fargo & Company Profile

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.