Wells Fargo & Company (NYSE:WFC) Shares Purchased by Chesley Taft & Associates LLC

by · The Cerbat Gem

Chesley Taft & Associates LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 37.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 195,896 shares of the financial services provider’s stock after acquiring an additional 53,773 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Wells Fargo & Company were worth $13,760,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Clear Harbor Asset Management LLC increased its holdings in Wells Fargo & Company by 2.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 53,149 shares of the financial services provider’s stock worth $3,733,000 after purchasing an additional 1,381 shares during the last quarter. Charles Schwab Trust Co acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $238,000. Royal Fund Management LLC increased its stake in shares of Wells Fargo & Company by 232.1% in the fourth quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock worth $4,470,000 after buying an additional 44,472 shares during the last quarter. Ballentine Partners LLC raised its holdings in Wells Fargo & Company by 4.1% in the fourth quarter. Ballentine Partners LLC now owns 41,289 shares of the financial services provider’s stock valued at $2,900,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Culbertson A N & Co. Inc. boosted its stake in Wells Fargo & Company by 7.9% during the 4th quarter. Culbertson A N & Co. Inc. now owns 71,406 shares of the financial services provider’s stock valued at $5,016,000 after acquiring an additional 5,219 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

WFC stock opened at $77.22 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap 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 12 month low of $46.12 and a 12 month high of $78.13. The firm has a 50 day simple moving average of $72.83 and a 200 day simple moving average of $63.60.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded 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. Finally, Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.39.

Read Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

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.

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