Citizens Financial Group Inc. RI Has $1 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Citizens Financial Group Inc. RI raised its stake in Wells Fargo & Company (NYSE:WFC) by 60.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,380 shares of the financial services provider’s stock after buying an additional 7,673 shares during the period. Citizens Financial Group Inc. RI’s holdings in Wells Fargo & Company were worth $1,003,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after purchasing an additional 129,300 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after purchasing an additional 335,560 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Wells Fargo & Company by 2.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after purchasing an additional 221,459 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Wells Fargo & Company by 19.4% during the third quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock worth $290,234,000 after purchasing an additional 1,156,106 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $59.91 on Friday. 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 business has a 50-day simple moving average of $56.93 and a two-hundred day simple moving average of $49.63. The company has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WFC shares. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Piper Sandler dropped their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, The Goldman Sachs Group boosted their target price 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. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.