Eclectic Associates Inc. ADV Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Eclectic Associates Inc. ADV boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 15,801 shares of the financial services provider’s stock after purchasing an additional 349 shares during the period. Eclectic Associates Inc. ADV’s holdings in Wells Fargo & Company were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the 2nd quarter worth $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. UBS Group raised 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 report on Monday, December 9th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed 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 given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.3 %

Shares of Wells Fargo & Company stock opened at $77.23 on Friday. The business has a 50 day moving average price of $73.13 and a 200 day moving average price of $63.92. The company has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a P/E/G 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 released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal 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.