Stock Yards Bank & Trust Co. Acquires 665 Shares of Wells Fargo & Company (NYSE:WFC)

Stock Yards Bank & Trust Co. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,849 shares of the financial services provider’s stock after acquiring an additional 665 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Wells Fargo & Company were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Stoneridge Investment Partners LLC boosted its position in shares of Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after purchasing an additional 54,262 shares in the last quarter. United Services Automobile Association boosted its position in shares of Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $2,499,000. Finally, Golden State Equity Partners boosted its position in shares of Wells Fargo & Company by 98.8% during the third quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after purchasing an additional 30,316 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WFC. Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Down 0.2 %

Wells Fargo & Company stock opened at $60.95 on Wednesday. The firm has a market capitalization of $215.79 billion, a PE ratio of 12.72, a P/E/G ratio of 1.18 and a beta of 1.19. The company’s 50-day moving average is $56.37 and its 200-day moving average is $49.26. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts anticipate 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.