Sound Income Strategies LLC Raises Stake in Wells Fargo & Company (NYSE:WFC)

Sound Income Strategies LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,499 shares of the financial services provider’s stock after acquiring an additional 1,075 shares during the period. Sound Income Strategies LLC’s holdings in Wells Fargo & Company were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Quad Cities Investment Group LLC raised its stake in Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after acquiring an additional 158 shares during the last quarter. Investors Research Corp increased its holdings in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares during the period. Ellenbecker Investment Group raised its stake in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the last quarter. Income Research & Management acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $211,000. Finally, Modera Wealth Management LLC grew its position in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $77.23 on Friday. The stock’s 50 day moving average price is $73.13 and its 200 day moving average price is $63.92. The firm has a market cap of $257.13 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. 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 1 year low of $47.45 and a 1 year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. During the same quarter last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on WFC shares. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Finally, Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.