4,203 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Ellenbecker Investment Group

Ellenbecker Investment Group purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,203 shares of the financial services provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stoneridge Investment Partners LLC lifted its holdings in shares of Wells Fargo & Company by 410.5% in the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after purchasing an additional 11,825 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $2,499,000. Finally, Golden State Equity Partners lifted its holdings in shares of Wells Fargo & Company by 98.8% in the third quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock valued at $2,492,000 after purchasing an additional 30,316 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC traded down $0.16 during trading hours on Tuesday, hitting $60.94. 21,661,680 shares of the company traded hands, compared to its average volume of 19,048,135. The stock has a market capitalization of $215.75 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.17 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The firm has a 50-day moving average of $56.12 and a 200 day moving average of $49.12. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WFC. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, Citigroup reissued a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.85.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.