Wells Fargo & Company (NYSE:WFC) Shares Purchased by Certuity LLC

Certuity LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,562 shares of the financial services provider’s stock after buying an additional 655 shares during the quarter. Wells Fargo & Company comprises approximately 1.5% of Certuity LLC’s holdings, making the stock its 18th largest position. Certuity LLC’s holdings in Wells Fargo & Company were worth $15,089,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stoneridge Investment Partners LLC grew its stake in Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 54,262 shares during the last quarter. United Services Automobile Association raised 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 during the period. Synovus Financial Corp increased its holdings in Wells Fargo & Company by 61.7% during the 3rd 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. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $2,499,000. Finally, WealthPlan Investment Management LLC grew its position in shares of Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock valued at $870,000 after acquiring an additional 20,351 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.05 on Tuesday, reaching $59.75. The stock had a trading volume of 9,263,565 shares, compared to its average volume of 18,946,016. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The business’s 50-day moving average price is $57.09 and its 200 day moving average price is $49.84. The stock has a market cap of $211.54 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WFC shares. Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Raymond James boosted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Piper Sandler reduced their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.