Wells Fargo & Company (NYSE:WFC) Shares Bought by Zhang Financial LLC

Zhang Financial LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 47.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,446 shares of the financial services provider’s stock after buying an additional 1,743 shares during the period. Zhang Financial LLC’s holdings in Wells Fargo & Company were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Edgestream Partners L.P. acquired a new position in Wells Fargo & Company in the second quarter worth approximately $272,000. Pacer Advisors Inc. boosted its position in shares of Wells Fargo & Company by 0.9% in the second quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider’s stock worth $14,748,000 after buying an additional 2,255 shares during the period. ProShare Advisors LLC grew its stake in Wells Fargo & Company by 1.1% during the 2nd quarter. ProShare Advisors LLC now owns 723,733 shares of the financial services provider’s stock valued at $42,983,000 after acquiring an additional 7,748 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Wells Fargo & Company by 51,610.0% in the second quarter. Frank Rimerman Advisors LLC now owns 20,684 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 20,644 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $47,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $77.22 on Tuesday. The company has a fifty day simple moving average of $72.74 and a 200 day simple moving average of $63.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $257.11 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Company Profile

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.