Monterey Private Wealth Inc. Has $335,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Monterey Private Wealth Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,776 shares of the financial services provider’s stock after acquiring an additional 795 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Wells Fargo & Company were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 26,320 shares during the period. Chartwell Investment Partners LLC boosted its stake in Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after acquiring an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its position in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.22 on Tuesday. The business’s 50 day moving average is $72.83 and its 200-day moving average is $63.60. The firm has a market cap of $257.11 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price 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.