ZWJ Investment Counsel Inc. Acquires 591 Shares of Wells Fargo & Company (NYSE:WFC)

ZWJ Investment Counsel Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,540 shares of the financial services provider’s stock after buying an additional 591 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Wells Fargo & Company were worth $2,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

Shares of WFC stock opened at $77.22 on Tuesday. The stock has a market cap of $257.11 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $72.74 and a 200 day simple moving average of $63.48.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wolfe Research raised 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 report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & 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.