Clarendon Private LLC Takes $847,000 Position in Wells Fargo & Company (NYSE:WFC)

Clarendon Private LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,064 shares of the financial services provider's stock, valued at approximately $847,000. Wells Fargo & Company comprises about 0.9% of Clarendon Private LLC's investment portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after buying an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC increased its holdings in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. raised its position in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock valued at $1,780,000 after purchasing an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.20 during mid-day trading on Friday, reaching $77.23. 10,392,498 shares of the stock were exchanged, compared to its average volume of 12,467,391. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. 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 business's 50 day moving average is $73.19 and its 200-day moving average is $64.07. The company has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for 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%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WFC. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company presently 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.