Meridian Wealth Partners LLC Acquires 540 Shares of Wells Fargo & Company (NYSE:WFC)

Meridian Wealth Partners LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,935 shares of the financial services provider’s stock after acquiring an additional 540 shares during the period. Wells Fargo & Company comprises 0.4% of Meridian Wealth Partners LLC’s portfolio, making the stock its 26th biggest position. Meridian Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $2,064,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Financial Corp IN increased its stake in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional raised its holdings in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership boosted its stake in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded down $0.02 during midday trading on Friday, reaching $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $56.93 and its 200 day simple moving average is $49.63. The company has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WFC. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, Argus upped their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.