12,064 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Clarendon Private LLC

Clarendon Private LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,064 shares of the financial services provider’s stock, valued at approximately $847,000. Wells Fargo & Company comprises approximately 0.9% of Clarendon Private LLC’s holdings, making the stock its 28th biggest holding.

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

Wells Fargo & Company Stock Down 0.3 %

Shares of WFC opened at $77.23 on Friday. The firm has a market cap of $257.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth 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 52 week low of $47.45 and a 52 week high of $78.30. The firm’s 50-day simple moving average is $73.19 and its 200 day simple moving average is $64.04.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Piper Sandler increased their target price 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. Finally, Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target 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.