Greatmark Investment Partners Inc. Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Greatmark Investment Partners Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,722 shares of the financial services provider’s stock after purchasing an additional 374 shares during the period. Greatmark Investment Partners Inc.’s holdings in Wells Fargo & Company were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. First Financial Corp IN boosted its position in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the last quarter. CX Institutional lifted its position in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the last quarter. Prio Wealth Limited Partnership lifted its position in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Argus raised their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Robert W. Baird restated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.18 during mid-day trading on Monday, hitting $60.09. The company’s stock had a trading volume of 9,293,833 shares, compared to its average volume of 18,989,422. 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 $212.74 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.16 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. The stock’s fifty day moving average price is $56.93 and its two-hundred day moving average price is $49.70.

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