Kingswood Wealth Advisors LLC Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Kingswood Wealth Advisors LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 64.1% in the 4th quarter, Holdings Channel reports. The fund owned 18,414 shares of the financial services provider’s stock after selling 32,840 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,293,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Drive Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 3.4% in the fourth quarter. Drive Wealth Management LLC now owns 24,972 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 823 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in Wells Fargo & Company in the 4th quarter worth $35,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Wells Fargo & Company by 5.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,758 shares of the financial services provider’s stock worth $1,599,000 after buying an additional 1,253 shares in the last quarter. SWP Financial LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $253,000. Finally, Clarendon Private LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $847,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on WFC shares. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $77.90 on Tuesday. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The stock 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. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s fifty day moving average is $73.19 and its two-hundred day moving average is $64.10.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, research analysts predict 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.