Clear Harbor Asset Management LLC Has $3.73 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Clear Harbor Asset Management LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,149 shares of the financial services provider’s stock after purchasing an additional 1,381 shares during the period. Clear Harbor Asset Management LLC’s holdings in Wells Fargo & Company were worth $3,733,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WFC. Charles Schwab Trust Co acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $238,000. Royal Fund Management LLC increased its stake in shares of Wells Fargo & Company by 232.1% in the fourth quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock valued at $4,470,000 after buying an additional 44,472 shares during the period. Ballentine Partners LLC lifted its stake in shares of Wells Fargo & Company by 4.1% in the fourth quarter. Ballentine Partners LLC now owns 41,289 shares of the financial services provider’s stock worth $2,900,000 after acquiring an additional 1,622 shares during the period. Culbertson A N & Co. Inc. raised its holdings in Wells Fargo & Company by 7.9% during the 4th quarter. Culbertson A N & Co. Inc. now owns 71,406 shares of the financial services provider’s stock worth $5,016,000 after purchasing an additional 5,219 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in shares of Wells Fargo & Company by 1.8% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 33,540 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 591 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 1.7 %

NYSE WFC opened at $77.22 on Tuesday. The stock has a market capitalization of $257.11 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18. The business’s fifty day moving average is $72.74 and its 200-day moving average is $63.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & 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.