Empowered Funds LLC Raises Stock Holdings in Wells Fargo & Company $WFC

Empowered Funds LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 85.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 685,602 shares of the financial services provider’s stock after buying an additional 316,856 shares during the period. Empowered Funds LLC’s holdings in Wells Fargo & Company were worth $54,581,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WFC. Nixon Peabody Trust Co. increased its holdings in shares of Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 115 shares in the last quarter. Simmons Bank boosted its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its position in Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the period. Wood Tarver Financial Group LLC grew its position in Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 120 shares during the period. Finally, Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of Wells Fargo & Company by 0.4% during the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 32,410 shares of the financial services provider’s stock valued at $3,021,000 after buying an additional 122 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Truist Financial raised their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Barclays decreased their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.50.

Wells Fargo & Company Trading Up 1.1%

Shares of Wells Fargo & Company stock opened at $87.28 on Tuesday. The firm has a 50-day simple moving average of $82.97 and a two-hundred day simple moving average of $83.35. The company has a market cap of $267.08 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.