496 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 496 shares of the financial services provider’s stock, valued at approximately $35,000.

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

Wells Fargo & Company Trading Down 0.3 %

WFC opened at $77.23 on Monday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. 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 firm has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The company’s 50 day moving average price is $73.19 and its two-hundred day moving average price is $64.07.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

WFC has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, UBS Group boosted 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

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.