Cedar Point Capital Partners LLC Invests $234,000 in Wells Fargo & Company (NYSE:WFC)

Cedar Point Capital Partners LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,332 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 16.2% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 4,845 shares of the financial services provider’s stock valued at $340,000 after buying an additional 677 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Wells Fargo & Company by 54.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 16,269 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 5,734 shares in the last quarter. Mutual Advisors LLC boosted its stake in Wells Fargo & Company by 27.5% during the 4th quarter. Mutual Advisors LLC now owns 24,198 shares of the financial services provider’s stock valued at $1,838,000 after acquiring an additional 5,217 shares during the last quarter. Global Trust Asset Management LLC raised its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Global Trust Asset Management LLC now owns 9,953 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 217 shares in the last quarter. Finally, Advisory Alpha LLC lifted its position in shares of Wells Fargo & Company by 6.9% during the fourth quarter. Advisory Alpha LLC now owns 6,273 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.4 %

NYSE:WFC opened at $77.56 on Thursday. The stock has a market cap of $258.23 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.29. The business has a fifty day moving average of $73.03 and a 200-day moving average of $63.82.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.