Motive Wealth Advisors Buys New Position in Wells Fargo & Company (NYSE:WFC)

Motive Wealth Advisors acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,433 shares of the financial services provider's stock, valued at approximately $241,000.

Several other hedge funds have also recently bought and sold shares of WFC. Two Sigma Advisers LP raised its stake 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. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the third quarter valued at about $160,529,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Artemis Investment Management LLP increased its stake in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock valued at $96,567,000 after acquiring an additional 1,105,679 shares during the period. Finally, National Pension Service raised 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 valued at $383,532,000 after acquiring an additional 897,195 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted 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. Wolfe Research upgraded shares of 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. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 0.1 %

NYSE:WFC traded up $0.09 during mid-day trading on Friday, hitting $77.52. The company had a trading volume of 4,786,259 shares, compared to its average volume of 15,814,932. 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 has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The firm has a market cap of $258.09 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.17 and a beta of 1.18. The business's fifty day moving average is $73.13 and its two-hundred day moving average is $63.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm earned $0.86 EPS. Wells Fargo & Company's quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

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.