Drive Wealth Management LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Drive Wealth Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFCFree Report) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,972 shares of the financial services provider’s stock after buying an additional 823 shares during the quarter. Drive Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Beaird Harris Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 54.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 305 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Wells Fargo & Company by 7.5% during the 2nd quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 592 shares during the period. Ascent Group LLC grew its holdings in shares of Wells Fargo & Company by 9.4% during the 2nd quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock worth $2,312,000 after purchasing an additional 3,347 shares during the period. Annandale Capital LLC grew its holdings in shares of Wells Fargo & Company by 1.2% during the 2nd quarter. Annandale Capital LLC now owns 19,142 shares of the financial services provider’s stock worth $1,137,000 after purchasing an additional 234 shares during the period. Finally, Aviso Wealth Management grew its holdings in shares of Wells Fargo & Company by 4.3% during the 2nd quarter. Aviso Wealth Management now owns 11,227 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Get Our Latest Report on WFC

Wells Fargo & Company Trading Down 0.3 %

NYSE:WFC opened at $77.23 on Monday. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The stock has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The business has a fifty day moving average of $73.19 and a 200-day moving average of $64.07. 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:WFCGet Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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