McGlone Suttner Wealth Management Inc. Purchases 3,262 Shares of Wells Fargo & Company (NYSE:WFC)

McGlone Suttner Wealth Management Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 64.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,350 shares of the financial services provider’s stock after acquiring an additional 3,262 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Income Research & Management bought a new position in Wells Fargo & Company in the 3rd quarter worth $211,000. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the second quarter worth about $25,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.1 %

Shares of NYSE:WFC opened at $77.49 on Friday. The company has a market cap of $258.00 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $73.03 and a 200 day moving average price of $63.82.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WFC. Evercore ISI raised their target price 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. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.39.

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.