Royal Fund Management LLC Purchases 44,472 Shares of Wells Fargo & Company (NYSE:WFC)

Royal Fund Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 232.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,636 shares of the financial services provider’s stock after acquiring an additional 44,472 shares during the quarter. Royal Fund Management LLC’s holdings in Wells Fargo & Company were worth $4,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Edgestream Partners L.P. bought a new position in Wells Fargo & Company during the 2nd quarter valued at about $272,000. Pacer Advisors Inc. raised its stake in Wells Fargo & Company by 0.9% in the second quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider’s stock worth $14,748,000 after buying an additional 2,255 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Wells Fargo & Company by 1.1% during the 2nd quarter. ProShare Advisors LLC now owns 723,733 shares of the financial services provider’s stock worth $42,983,000 after purchasing an additional 7,748 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 51,610.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 20,684 shares of the financial services provider’s stock valued at $1,228,000 after buying an additional 20,644 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in Wells Fargo & Company in the second quarter worth $47,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 1.7 %

WFC opened at $77.22 on Tuesday. The firm has a market cap of $257.11 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.16 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 twelve month low of $46.12 and a twelve month high of $78.13. The business has a 50 day moving average price of $72.74 and a 200 day moving average price of $63.48.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company 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.