By otakuyassine3@gmail.com 
Parkside Investments LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the financial services provider’s stock, valued at approximately $843,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its position in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Finally, National Pension Service grew 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 valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have weighed in on WFC shares. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Finally, Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.
Read Our Latest Stock Analysis on WFC
Wells Fargo & Company Stock Down 0.3 %
Shares of WFC opened at $77.23 on Monday. The company’s 50-day simple moving average is $73.19 and its 200-day simple moving average is $64.10. 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 stock has a market capitalization of $257.13 billion, a PE ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal 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.
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