Wells Fargo & Company (NYSE:WFC) Holdings Raised by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 152.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,582 shares of the financial services provider’s stock after purchasing an additional 10,001 shares during the period. Van Cleef Asset Management Inc’s holdings in Wells Fargo & Company were worth $816,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup reissued a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Barclays upped their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.67 on Thursday, reaching $59.93. 23,982,636 shares of the stock were exchanged, compared to its average volume of 19,119,436. The stock has a market cap of $212.18 billion, a PE ratio of 12.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The firm has a fifty day moving average price of $56.61 and a two-hundred day moving average price of $49.34.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.