Verde Servicos Internacionais S.A. Buys Shares of 310,178 Wells Fargo & Company (NYSE:WFC)

Verde Servicos Internacionais S.A. acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel reports. The firm acquired 310,178 shares of the financial services provider’s stock, valued at approximately $21,787,000. Wells Fargo & Company makes up 9.4% of Verde Servicos Internacionais S.A.’s investment portfolio, making the stock its 3rd biggest holding.

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

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.90 on Tuesday. 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 has a twelve month low of $47.45 and a twelve month high of $78.30. The stock has a market capitalization of $259.37 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a 50 day moving average of $73.19 and a 200-day moving average of $64.10.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on WFC shares. 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 note on Thursday, January 16th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.