Bfsg LLC Buys New Shares in Wells Fargo & Company (NYSE:WFC)

Bfsg LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 684 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other hedge funds have also recently made changes to their positions in the company. Private Management Group Inc. increased its position in shares of Wells Fargo & Company by 2.3% in the 4th quarter. Private Management Group Inc. now owns 22,160 shares of the financial services provider’s stock valued at $1,091,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $1,030,000. Ellenbecker Investment Group acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $206,000. Parkside Financial Bank & Trust increased its position in shares of Wells Fargo & Company by 14.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 11,233 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 1,433 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in shares of Wells Fargo & Company by 17.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 506,707 shares of the financial services provider’s stock valued at $24,940,000 after acquiring an additional 75,646 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on WFC. Barclays increased their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Evercore ISI increased their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Down 0.2 %

Shares of Wells Fargo & Company stock opened at $59.80 on Friday. The firm has a market capitalization of $211.72 billion, a PE ratio of 12.51, 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’s 50-day moving average price is $56.77 and its 200 day moving average price is $49.42. 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 issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, sell-side analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

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.