Ballentine Partners LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Ballentine Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,289 shares of the financial services provider’s stock after purchasing an additional 1,622 shares during the quarter. Ballentine Partners LLC’s holdings in Wells Fargo & Company were worth $2,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. National Pension Service lifted its holdings in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new position in Wells Fargo & Company during the 3rd quarter worth $160,529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.7 %

NYSE:WFC opened at $77.22 on Tuesday. The company has a market capitalization of $257.11 billion, a PE ratio of 14.35, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The stock’s 50 day moving average price is $72.74 and its 200 day moving average price is $63.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $20.58 billion. During the same period last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WFC shares. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price objective 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. Finally, Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & 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.