MCF Advisors LLC Buys 235 Shares of Wells Fargo & Company (NYSE:WFC)

MCF Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,748 shares of the financial services provider’s stock after purchasing an additional 235 shares during the quarter. MCF Advisors LLC’s holdings in Wells Fargo & Company were worth $544,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $272,000. Evergreen Capital Management LLC raised its position in Wells Fargo & Company by 7.8% during the second quarter. Evergreen Capital Management LLC now owns 29,378 shares of the financial services provider’s stock valued at $1,745,000 after purchasing an additional 2,138 shares in the last quarter. Marshall Wace LLP lifted its stake in Wells Fargo & Company by 3,295.6% during the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $227,000. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Wells Fargo & Company by 5.6% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 82,660 shares of the financial services provider’s stock valued at $4,909,000 after purchasing an additional 4,416 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. 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 report on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Compass Point boosted their price target 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. Finally, Truist Financial raised 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Up 1.1 %

Shares of WFC stock opened at $77.90 on Wednesday. The company has a 50 day simple moving average of $72.83 and a two-hundred day simple moving average of $63.60. The stock has a market cap of $259.36 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.29. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & 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.