Braun Bostich & Associates Inc. Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Braun Bostich & Associates Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,498 shares of the financial services provider’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Pension Service increased its holdings in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP lifted its position in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $160,529,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.90 on Wednesday. The firm has a market cap of $259.36 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.29. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $63.60.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price objective 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. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.