Brighton Jones LLC Acquires 25,436 Shares of Wells Fargo & Company (NYSE:WFC)

Brighton Jones LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 62.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 66,233 shares of the financial services provider’s stock after purchasing an additional 25,436 shares during the quarter. Brighton Jones LLC’s holdings in Wells Fargo & Company were worth $4,652,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WFC. Sustainable Insight Capital Management LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $5,212,000. Hengehold Capital Management LLC lifted its position in shares of Wells Fargo & Company by 17.2% during the 4th quarter. Hengehold Capital Management LLC now owns 5,394 shares of the financial services provider’s stock worth $379,000 after buying an additional 793 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 3.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 4,809 shares of the financial services provider’s stock valued at $338,000 after buying an additional 167 shares in the last quarter. Secure Asset Management LLC grew its position in Wells Fargo & Company by 11.7% in the fourth quarter. Secure Asset Management LLC now owns 5,067 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 530 shares during the period. Finally, Madrona Financial Services LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $258,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WFC shares. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.1 %

NYSE WFC opened at $77.49 on Friday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The stock has a 50-day simple moving average of $73.03 and a 200 day simple moving average of $63.82. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $258.00 billion, a PE ratio of 14.40, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

About Wells Fargo & Company

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.