Royal Fund Management LLC Buys 44,472 Shares of Wells Fargo & Company (NYSE:WFC)

Royal Fund Management LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 232.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,636 shares of the financial services provider’s stock after purchasing an additional 44,472 shares during the period. Royal Fund Management LLC’s holdings in Wells Fargo & Company were worth $4,470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $77.22 on Tuesday. The company has a market capitalization of $257.11 billion, a P/E ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18. The business has a 50 day simple moving average of $72.74 and a 200-day simple moving average of $63.48. 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 has a twelve month low of $46.12 and a twelve month high of $78.13.

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

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target 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.