Wells Fargo & Company (NYSE:WFC) Holdings Raised by Drive Wealth Management LLC

Drive Wealth Management LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the 4th quarter, HoldingsChannel reports. The firm owned 24,972 shares of the financial services provider’s stock after acquiring an additional 823 shares during the quarter. Drive Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,754,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $35,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Wells Fargo & Company by 5.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,758 shares of the financial services provider’s stock worth $1,599,000 after acquiring an additional 1,253 shares in the last quarter. SWP Financial LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $253,000. Clarendon Private LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $847,000. Finally, Juncture Wealth Strategies LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $256,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WFC. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 0.3 %

Shares of NYSE:WFC opened at $77.23 on Monday. The company has a market cap of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. The stock’s 50-day moving average is $73.19 and its 200-day moving average is $64.07. 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.

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. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

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.