GAMMA Investing LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

GAMMA Investing LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,525 shares of the financial services provider’s stock, valued at approximately $1,030,000.

Several other large investors also recently made changes to their positions in the stock. Ellenbecker Investment Group bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $206,000. Parkside Financial Bank & Trust grew its position in Wells Fargo & Company by 14.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 11,233 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 1,433 shares in the last quarter. Illinois Municipal Retirement Fund grew 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 in the last quarter. 1900 Wealth Management LLC grew 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 in the last quarter. Finally, Aspire Private Capital LLC grew 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 in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $0.15 during mid-day trading on Tuesday, reaching $60.95. 21,678,006 shares of the company were exchanged, compared to its average volume of 19,048,328. The company’s 50-day simple moving average is $56.12 and its 200-day simple moving average is $49.12. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $215.79 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.17 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. 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. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Thirteen 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, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company 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.