Stonegate Investment Group LLC Raises Position in Wells Fargo & Company (NYSE:WFC)

Stonegate Investment Group LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,036 shares of the financial services provider’s stock after buying an additional 603 shares during the quarter. Stonegate Investment Group LLC’s holdings in Wells Fargo & Company were worth $3,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Cardinal Capital Management Inc. increased its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after acquiring an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. increased its position in shares of Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after acquiring an additional 8,107 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.8 %

NYSE WFC opened at $77.90 on Tuesday. The stock’s 50-day simple moving average is $73.19 and its two-hundred day simple moving average is $64.10. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. 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 company has a market capitalization of $259.37 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.17 and a beta of 1.18.

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, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on WFC shares. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven 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, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $73.39.

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.