Tennessee Valley Asset Management Partners Acquires Shares of 599 Wells Fargo & Company (NYSE:WFC)

Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel reports. The fund acquired 599 shares of the financial services provider’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Personal Financial Services boosted its stake in Wells Fargo & Company by 37.1% in the fourth quarter. First Personal Financial Services now owns 3,413 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 924 shares during the last quarter. G2 Capital Management LLC OH bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $278,000. Perigon Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 0.5% during the fourth quarter. Perigon Wealth Management LLC now owns 193,463 shares of the financial services provider’s stock worth $9,522,000 after purchasing an additional 1,026 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its position in shares of Wells Fargo & Company by 1.6% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 75,839 shares of the financial services provider’s stock worth $3,733,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $727,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Barclays lifted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Argus boosted their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Down 0.5 %

Wells Fargo & Company stock opened at $60.61 on Thursday. The firm has a market capitalization of $214.57 billion, a PE ratio of 12.65, a P/E/G ratio of 1.18 and a beta of 1.19. The company’s 50-day moving average is $56.61 and its 200-day moving average is $49.34. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.