West Wealth Group LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

West Wealth Group LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,301 shares of the financial services provider’s stock, valued at approximately $232,000.

Other large investors also recently modified their holdings of the company. National Pension Service grew its holdings in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake 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 worth $375,183,000 after purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB increased its holdings in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP raised its position in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in Wells Fargo & Company in the third quarter valued at $160,529,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.3 %

Wells Fargo & Company stock opened at $77.23 on Monday. The business’s 50-day simple moving average is $73.19 and its two-hundred day simple moving average is $64.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $257.13 billion, a PE ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.