Wells Fargo & Company (NYSE:WFC) Shares Acquired by Grimes & Company Inc.

Grimes & Company Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,378 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. Grimes & Company Inc.’s holdings in Wells Fargo & Company were worth $2,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Income Research & Management acquired a new stake in Wells Fargo & Company during the third quarter worth about $211,000. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the second quarter worth about $25,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the second quarter worth about $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.3 %

Shares of Wells Fargo & Company stock opened at $77.23 on Friday. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.30. The company has a 50 day moving average of $73.19 and a 200 day moving average of $64.04. 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 $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.

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, topping 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 company 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 firm earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WFC shares. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.39.

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.