Harbor Investment Advisory LLC Has $842,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Harbor Investment Advisory LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 30.5% during the 4th quarter, HoldingsChannel reports. The fund owned 11,984 shares of the financial services provider’s stock after purchasing an additional 2,800 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Wells Fargo & Company were worth $842,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.90 on Wednesday. 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 has a twelve month low of $47.45 and a twelve month high of $78.29. The stock has a market capitalization of $259.36 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.18. The company has a 50 day moving average of $72.83 and a 200-day moving average of $63.60.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WFC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Morgan Stanley raised 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. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.