ZWJ Investment Counsel Inc. Acquires 591 Shares of Wells Fargo & Company (NYSE:WFC)

ZWJ Investment Counsel Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 33,540 shares of the financial services provider’s stock after acquiring an additional 591 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Wells Fargo & Company were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pure Financial Advisors LLC grew its position in Wells Fargo & Company by 1.4% in the fourth quarter. Pure Financial Advisors LLC now owns 17,890 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 255 shares during the last quarter. Tudor Financial Inc. grew its holdings in shares of Wells Fargo & Company by 9.2% during the 4th quarter. Tudor Financial Inc. now owns 9,041 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 761 shares during the last quarter. Wealthquest Corp acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $262,000. Harbor Investment Advisory LLC lifted its stake in Wells Fargo & Company by 30.5% in the 4th quarter. Harbor Investment Advisory LLC now owns 11,984 shares of the financial services provider’s stock valued at $842,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in Wells Fargo & Company by 3.9% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 20,082 shares of the financial services provider’s stock valued at $1,411,000 after buying an additional 747 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

Wells Fargo & Company stock opened at $77.22 on Tuesday. The company has a market capitalization of $257.11 billion, a PE ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The firm’s fifty day moving average is $72.74 and its 200 day moving average is $63.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target 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.