Steele Capital Management Inc. Buys Shares of 9,032 Wells Fargo & Company (NYSE:WFC)

Steele Capital Management Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,032 shares of the financial services provider’s stock, valued at approximately $445,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in shares of Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Wells Fargo & Company by 1.9% in the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Wells Fargo & Company by 2.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after purchasing an additional 221,459 shares during the period. Van ECK Associates Corp lifted its position in shares of Wells Fargo & Company by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock worth $290,234,000 after purchasing an additional 1,156,106 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Argus lifted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Morgan Stanley boosted 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. Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Down 0.1 %

NYSE WFC traded down $0.04 during trading hours on Tuesday, reaching $59.76. 3,610,423 shares of the company’s stock were exchanged, compared to its average volume of 18,879,938. The company has a market capitalization of $211.57 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a one year low of $36.40 and a one year 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 company’s 50-day moving average is $57.09 and its two-hundred day moving average is $49.84.

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