Mutual Advisors LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Mutual Advisors LLC grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,198 shares of the financial services provider's stock after acquiring an additional 5,217 shares during the quarter. Mutual Advisors LLC's holdings in Wells Fargo & Company were worth $1,838,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of analysts have recently commented on WFC shares. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.20 during midday trading on Friday, hitting $77.23. The company had a trading volume of 10,392,498 shares, compared to its average volume of 12,467,391. The firm has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The business has a 50-day simple moving average of $73.19 and a two-hundred day simple moving average of $64.04. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current 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.