MKT Advisors LLC Sells 192 Shares of Wells Fargo & Company (NYSE:WFC)

MKT Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 4,749 shares of the financial services provider’s stock after selling 192 shares during the quarter. MKT Advisors LLC’s holdings in Wells Fargo & Company were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clarendon Private LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $847,000. Juncture Wealth Strategies LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $256,000. B.O.S.S. Retirement Advisors LLC grew its holdings in shares of Wells Fargo & Company by 473.5% in the fourth quarter. B.O.S.S. Retirement Advisors LLC now owns 45,877 shares of the financial services provider’s stock worth $3,222,000 after purchasing an additional 37,877 shares during the last quarter. Grimes & Company Inc. increased its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Grimes & Company Inc. now owns 32,378 shares of the financial services provider’s stock worth $2,274,000 after buying an additional 700 shares during the period. Finally, Eclectic Associates Inc. ADV increased its position in shares of Wells Fargo & Company by 2.3% in the fourth quarter. Eclectic Associates Inc. ADV now owns 15,801 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 349 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. UBS Group lifted their price objective 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. Finally, Barclays increased their target price 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $77.23 on Friday. The stock has a market capitalization of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock’s 50 day simple moving average is $73.19 and its 200 day simple moving average is $64.04. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. 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 (NYSE:WFC) last posted its 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 for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

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.