Cerro Pacific Wealth Advisors LLC Buys 167 Shares of Wells Fargo & Company (NYSE:WFC)

Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,809 shares of the financial services provider’s stock after acquiring an additional 167 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $338,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WFC. AlTi Global Inc. increased its stake in shares of Wells Fargo & Company by 4.2% during the 2nd quarter. AlTi Global Inc. now owns 19,675 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 799 shares during the last quarter. AQR Capital Management LLC grew its holdings in 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 period. Drucker Wealth 3.0 LLC acquired a new position in Wells Fargo & Company during the second quarter worth approximately $5,214,000. Daymark Wealth Partners LLC raised its stake in Wells Fargo & Company by 4.7% in the second quarter. Daymark Wealth Partners LLC now owns 75,647 shares of the financial services provider’s stock valued at $4,493,000 after buying an additional 3,391 shares during the period. Finally, MBB Public Markets I LLC lifted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WFC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Down 0.1 %

Shares of WFC opened at $77.49 on Friday. The firm has a 50 day simple moving average of $73.03 and a two-hundred day simple moving average of $63.82. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30. The company has a market cap of $258.00 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company 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.