SWP Financial LLC Invests $253,000 in Wells Fargo & Company (NYSE:WFC)

SWP Financial LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,597 shares of the financial services provider’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. National Pension Service lifted its position in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares during the period. Nordea Investment Management AB boosted its stake in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after buying an additional 575,892 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $160,529,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on WFC shares. UBS Group lifted their target price 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. Royal Bank of Canada reiterated 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. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded 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. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.23 on Monday. The business’s 50-day simple moving average is $73.19 and its 200 day simple moving average is $64.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current 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.