Ellenbecker Investment Group bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The fund bought 4,203 shares of the financial services provider’s stock, valued at approximately $206,000.
Several other hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust boosted its stake in shares of Wells Fargo & Company by 14.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 11,233 shares of the financial services provider’s stock worth $553,000 after buying an additional 1,433 shares during the period. Illinois Municipal Retirement Fund lifted its position in Wells Fargo & Company by 17.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 506,707 shares of the financial services provider’s stock valued at $24,940,000 after purchasing an additional 75,646 shares during the period. 1900 Wealth Management LLC lifted its position in Wells Fargo & Company by 13.8% in the fourth quarter. 1900 Wealth Management LLC now owns 10,222 shares of the financial services provider’s stock valued at $503,000 after purchasing an additional 1,241 shares during the period. Aspire Private Capital LLC lifted its position in Wells Fargo & Company by 3.0% in the fourth quarter. Aspire Private Capital LLC now owns 23,039 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 678 shares during the period. Finally, RWA Wealth Partners LLC lifted its position in Wells Fargo & Company by 4,156.7% in the fourth quarter. RWA Wealth Partners LLC now owns 324,018 shares of the financial services provider’s stock valued at $15,948,000 after purchasing an additional 316,406 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.
Wells Fargo & Company Trading Down 0.3 %
Shares of NYSE WFC traded down $0.16 during trading on Tuesday, hitting $60.94. 21,661,680 shares of the company traded hands, compared to its average volume of 19,048,135. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The company has a 50-day moving average price of $56.12 and a 200-day moving average price of $49.12. The firm has a market capitalization of $215.75 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.17 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.
Wall Street Analysts Forecast Growth
WFC has been the subject of a number of recent analyst reports. Robert W. Baird restated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research report on Thursday, January 18th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.85.
Read Our Latest Stock Report on WFC
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.
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