Pure Financial Advisors LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Pure Financial Advisors LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,890 shares of the financial services provider’s stock after buying an additional 255 shares during the period. Pure Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tudor Financial Inc. boosted its stake in Wells Fargo & Company by 9.2% in the fourth quarter. Tudor Financial Inc. now owns 9,041 shares of the financial services provider’s stock valued at $635,000 after acquiring an additional 761 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $262,000. Harbor Investment Advisory LLC boosted its position in shares of Wells Fargo & Company by 30.5% in the 4th quarter. Harbor Investment Advisory LLC now owns 11,984 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 2,800 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Wells Fargo & Company by 3.9% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 20,082 shares of the financial services provider’s stock worth $1,411,000 after buying an additional 747 shares during the last quarter. Finally, Zhang Financial LLC increased its position in Wells Fargo & Company by 47.1% during the 4th quarter. Zhang Financial LLC now owns 5,446 shares of the financial services provider’s stock valued at $383,000 after buying an additional 1,743 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WFC shares. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $77.90 on Wednesday. The firm’s 50-day moving average is $72.83 and its two-hundred day moving average is $63.60. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $259.36 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for 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%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. Analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

About Wells Fargo & Company

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.