IVC Wealth Advisors LLC Trims Position in Wells Fargo & Company (NYSE:WFC)

IVC Wealth Advisors LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,785 shares of the financial services provider’s stock after selling 136 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quad Cities Investment Group LLC lifted its holdings in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares during the period. Investors Research Corp lifted its stake in shares of Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares during the period. Ellenbecker Investment Group boosted its holdings in shares of Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares in the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $211,000. Finally, Modera Wealth Management LLC raised its holdings in Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WFC. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.1 %

Shares of NYSE WFC opened at $77.49 on Friday. The firm has a market cap of $258.00 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.18 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. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The firm’s 50 day moving average price is $73.03 and its 200 day moving average price is $63.82.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share 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.