SWP Financial LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

SWP Financial LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,597 shares of the financial services provider's stock, valued at approximately $253,000.

Other hedge funds also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 54.5% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider's stock valued at $51,000 after buying an additional 305 shares during the period. Kathmere Capital Management LLC lifted its holdings in Wells Fargo & Company by 7.5% in the second quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider's stock worth $505,000 after acquiring an additional 592 shares during the last quarter. Ascent Group LLC boosted its stake in Wells Fargo & Company by 9.4% in the second quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider's stock valued at $2,312,000 after acquiring 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 second quarter. Annandale Capital LLC now owns 19,142 shares of the financial services provider's stock valued at $1,137,000 after purchasing an additional 234 shares during the last quarter. Finally, Aviso Wealth Management raised its position 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. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on WFC. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Finally, UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.58 on Monday, reaching $77.90. 10,630,567 shares of the company traded hands, compared to its average volume of 15,855,825. The stock has a market capitalization of $259.37 billion, a PE ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company's 50 day moving average is $73.19 and its 200-day moving average is $64.10. 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 - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

About Wells Fargo & Company

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.