Global Trust Asset Management LLC Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Global Trust Asset Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,953 shares of the financial services provider’s stock after purchasing an additional 217 shares during the period. Global Trust Asset Management LLC’s holdings in Wells Fargo & Company were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Income Research & Management bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth $25,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of analyst reports. 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. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $77.90 on Wednesday. The firm has a fifty day simple moving average of $72.94 and a two-hundred day simple moving average of $63.72. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.29. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $259.36 billion, a P/E ratio of 14.48, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. On average, analysts expect 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.