RFG Advisory LLC Grows Stake in Wells Fargo & Company (NYSE:WFC)

RFG Advisory LLC grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 45.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,935 shares of the financial services provider's stock after acquiring an additional 11,549 shares during the period. RFG Advisory LLC's holdings in Wells Fargo & Company were worth $2,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Income Research & Management bought a new position in Wells Fargo & Company during the third quarter worth about $211,000. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WFC shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.20 during trading hours on Friday, reaching $77.23. The stock had a trading volume of 10,392,498 shares, compared to its average volume of 12,467,391. The stock's fifty day simple moving average is $73.19 and its 200 day simple moving average is $64.04. The firm has a market capitalization 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 12 month low of $47.45 and a 12 month high of $78.30. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.84 EPS 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.