3,387 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Charles Schwab Trust Co

Charles Schwab Trust Co purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 3,387 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the 2nd quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.7 %

Wells Fargo & Company stock opened at $77.22 on Tuesday. The stock has a market cap 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 quick ratio of 0.85 and a current ratio of 0.86. The firm’s fifty day moving average price is $72.74 and its 200-day moving average price is $63.48. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI increased their price target 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. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.39.

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.