United Asset Strategies Inc. Has $2.79 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

United Asset Strategies Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,648 shares of the financial services provider’s stock after selling 345 shares during the period. United Asset Strategies Inc.’s holdings in Wells Fargo & Company were worth $2,785,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WFC. Cardinal Capital Management Inc. lifted its position in shares of Wells Fargo & Company by 2.0% in the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. raised its position in shares of Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 8,107 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $77.23 on Monday. The firm has a market capitalization of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. The firm has a 50-day moving average price of $73.19 and a 200 day moving average price of $64.10.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.39.

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.