CX Institutional Has $1.44 Million Position in Wells Fargo & Company (NYSE:WFC)

CX Institutional grew its stake in Wells Fargo & Company (NYSE:WFC) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,433 shares of the financial services provider’s stock after buying an additional 1,222 shares during the period. CX Institutional’s holdings in Wells Fargo & Company were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Encompass More Asset Management raised its holdings in Wells Fargo & Company by 20.8% during the 4th quarter. Encompass More Asset Management now owns 9,312 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 1,605 shares during the last quarter. Sound Income Strategies LLC raised its stake in Wells Fargo & Company by 16.7% during the fourth quarter. Sound Income Strategies LLC now owns 7,499 shares of the financial services provider’s stock worth $527,000 after buying an additional 1,075 shares during the last quarter. RFG Advisory LLC lifted its holdings in Wells Fargo & Company by 45.5% in the fourth quarter. RFG Advisory LLC now owns 36,935 shares of the financial services provider’s stock valued at $2,594,000 after buying an additional 11,549 shares during the period. Motive Wealth Advisors bought a new stake in Wells Fargo & Company during the fourth quarter valued at $241,000. Finally, McGlone Suttner Wealth Management Inc. grew its holdings in Wells Fargo & Company by 64.1% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 8,350 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 3,262 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on WFC. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $77.23 on Friday. The company has a fifty day moving average price of $73.13 and a 200-day moving average price of $63.92. The firm has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 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 1 year low of $47.45 and a 1 year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal 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.