15,713 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,713 shares of the financial services provider’s stock, valued at approximately $773,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.67 during midday trading on Thursday, reaching $59.93. The stock had a trading volume of 23,982,636 shares, compared to its average volume of 19,119,436. The stock has a 50-day moving average of $56.61 and a 200-day moving average of $49.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $212.18 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFC. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Robert W. Baird restated a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. HSBC increased their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Piper Sandler lowered their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Finally, Barclays increased their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen 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 company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Company Profile

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.