Investment House LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)


Share on StockTwits

Investment House LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,356 shares of the financial services provider’s stock, valued at approximately $313,000.

Other institutional investors have also recently modified their holdings of the company. Ausdal Financial Partners Inc. grew its stake in shares of Wells Fargo & Company by 34.9% in the third quarter. Ausdal Financial Partners Inc. now owns 20,562 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 5,314 shares during the period. TRUE Private Wealth Advisors grew its stake in shares of Wells Fargo & Company by 7.2% in the fourth quarter. TRUE Private Wealth Advisors now owns 22,328 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 1,500 shares during the period. Transcend Wealth Collective LLC grew its stake in shares of Wells Fargo & Company by 299.4% in the third quarter. Transcend Wealth Collective LLC now owns 83,365 shares of the financial services provider’s stock worth $1,960,000 after acquiring an additional 62,492 shares during the period. Profund Advisors LLC grew its stake in shares of Wells Fargo & Company by 12.7% in the third quarter. Profund Advisors LLC now owns 90,501 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 10,184 shares during the period. Finally, Windacre Partnership LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $153,445,000. 67.25% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on WFC. DA Davidson upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $27.00 to $31.00 in a research note on Thursday, November 19th. Barclays boosted their target price on shares of Wells Fargo & Company from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 4th. Morgan Stanley upgraded shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Monday, November 30th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Company from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $36.00 in a research report on Monday, December 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Wells Fargo & Company from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.06.

Wells Fargo & Company stock opened at $33.80 on Thursday. The company has a market cap of $139.75 billion, a price-to-earnings ratio of 91.35, a PEG ratio of 4.84 and a beta of 1.07. The firm’s fifty day moving average is $29.96 and its 200 day moving average is $25.75. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a 52-week low of $20.76 and a 52-week high of $50.74.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The business had revenue of $18.86 billion for the quarter, compared to analysts’ expectations of $17.87 billion. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. Wells Fargo & Company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

Read More: What is a Stop Order?

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.