Encompass More Asset Management Purchases 1,605 Shares of Wells Fargo & Company (NYSE:WFC)

Encompass More Asset Management raised its position in Wells Fargo & Company (NYSE:WFC) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,312 shares of the financial services provider’s stock after acquiring an additional 1,605 shares during the quarter. Encompass More Asset Management’s holdings in Wells Fargo & Company were worth $654,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Evercore ISI boosted their target price 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $77.55 on Friday. 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 company’s 50-day moving average is $73.03 and its 200-day moving average is $63.82. The stock has a market capitalization of $258.20 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal 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.