Wells Fargo & Company (NYSE:WFC) Stock Holdings Lifted by RFG Advisory LLC

RFG Advisory LLC grew its stake in Wells Fargo & Company (NYSE:WFC) by 45.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,935 shares of the financial services provider’s stock after buying an additional 11,549 shares during the period. RFG Advisory LLC’s holdings in Wells Fargo & Company were worth $2,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. National Pension Service increased its stake in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the period. Nordea Investment Management AB increased its stake in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $160,529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.3 %

NYSE:WFC opened at $77.23 on Friday. The stock’s fifty day moving average price is $73.13 and its two-hundred day moving average price is $63.92. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective 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. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.