Pure Financial Advisors LLC Grows Holdings in Wells Fargo & Company (NYSE:WFC)

Pure Financial Advisors LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,890 shares of the financial services provider’s stock after purchasing an additional 255 shares during the period. Pure Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $1,257,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley upped their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.90 on Wednesday. The stock has a fifty day moving average price of $72.83 and a 200 day moving average price of $63.60. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $259.36 billion, a PE ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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 business had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

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.