Choreo LLC Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Choreo LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,733 shares of the financial services provider’s stock after purchasing an additional 5,527 shares during the quarter. Choreo LLC’s holdings in Wells Fargo & Company were worth $2,448,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WFC. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company in the fourth quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WFC shares. Evercore ISI raised their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a report on Thursday, January 18th. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Raymond James raised their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Trading Down 0.6 %

Wells Fargo & Company stock opened at $59.45 on Tuesday. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $210.48 billion, a PE ratio of 12.49, a PEG ratio of 1.16 and a beta of 1.19. The business’s 50-day simple moving average is $57.09 and its 200-day simple moving average is $49.84.

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

About Wells Fargo & Company

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.