Greenup Street Wealth Management LLC Acquires New Stake in Wells Fargo & Company (NYSE:WFC)

Greenup Street Wealth Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The institutional investor bought 21,517 shares of the financial services provider’s stock, valued at approximately $1,511,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Pension Service increased its position in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB raised its stake in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP raised its position in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP bought a new position in Wells Fargo & Company during the 3rd quarter worth $160,529,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.8 %

WFC opened at $77.90 on Tuesday. The company has a fifty day moving average price of $73.19 and a 200-day moving average price of $64.10. The firm has a market capitalization of $259.37 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results 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 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 analyst estimates of $20.58 billion. During the same period in the prior year, the business posted $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WFC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Barclays increased their price objective 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. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

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.