Choreo LLC Acquires 5,527 Shares of Wells Fargo & Company (NYSE:WFC)

Choreo LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 12.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,733 shares of the financial services provider’s stock after buying an additional 5,527 shares during the period. Choreo LLC’s holdings in Wells Fargo & Company were worth $2,448,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.6 %

Wells Fargo & Company stock opened at $59.45 on Tuesday. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The firm has a market capitalization of $210.48 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm’s fifty day moving average price is $57.09 and its two-hundred day moving average price is $49.84.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Citigroup restated a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.