3,071 Shares in Wells Fargo & Company $WFC Bought by Facet Wealth Inc.

Facet Wealth Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel reports. The fund bought 3,071 shares of the financial services provider’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WFC. Brighton Jones LLC grew its holdings in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Convergence Financial LLC boosted its stake in Wells Fargo & Company by 11.4% during the 1st quarter. Convergence Financial LLC now owns 3,368 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 344 shares during the last quarter. Stonebridge Financial Group LLC boosted its stake in Wells Fargo & Company by 24.4% during the 1st quarter. Stonebridge Financial Group LLC now owns 2,360 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 463 shares during the last quarter. Valley National Advisers Inc. boosted its stake in Wells Fargo & Company by 2.8% during the 1st quarter. Valley National Advisers Inc. now owns 9,422 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 260 shares during the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $72,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Truist Financial increased their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. TD Cowen raised their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Performance

WFC opened at $86.97 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $278.59 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.19 and a beta of 1.25. The company’s 50 day moving average is $82.08 and its 200 day moving average is $77.94. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company 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.