Facet Wealth Inc. Makes New Investment in Wells Fargo & Company $WFC

Facet Wealth Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,071 shares of the financial services provider’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco raised its stake in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at approximately $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $86.97 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The stock has a market capitalization of $278.59 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The stock’s 50 day moving average price is $82.08 and its 200-day moving average price is $77.94.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Barclays raised their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

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.