Clear Harbor Asset Management LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Clear Harbor Asset Management LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,149 shares of the financial services provider’s stock after acquiring an additional 1,381 shares during the period. Clear Harbor Asset Management LLC’s holdings in Wells Fargo & Company were worth $3,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE WFC opened at $77.22 on Tuesday. The firm has a fifty day simple moving average of $72.74 and a two-hundred day simple moving average of $63.48. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month 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. The firm has a market capitalization of $257.11 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

About Wells Fargo & Company

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.