Culbertson A N & Co. Inc. Acquires 5,219 Shares of Wells Fargo & Company (NYSE:WFC)

Culbertson A N & Co. Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 71,406 shares of the financial services provider’s stock after acquiring an additional 5,219 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Wells Fargo & Company were worth $5,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WFC. Income Research & Management bought a new stake in Wells Fargo & Company in the third quarter worth $211,000. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.7 %

NYSE:WFC opened at $77.22 on Tuesday. The firm has a market capitalization of $257.11 billion, a P/E ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company’s 50-day simple moving average is $72.74 and its 200 day simple moving average is $63.48.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company 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.