GAMMA Investing LLC Acquires Shares of 20,525 Wells Fargo & Company (NYSE:WFC)

GAMMA Investing LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,525 shares of the financial services provider’s stock, valued at approximately $1,030,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter valued at $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at $32,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 108.0% during the 4th quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after buying an additional 376 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. HSBC boosted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Piper Sandler dropped their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $0.15 during midday trading on Tuesday, hitting $60.95. 21,678,006 shares of the company’s stock traded hands, compared to its average volume of 19,048,328. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The stock has a market capitalization of $215.79 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. 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 firm has a fifty day moving average of $56.12 and a 200 day moving average of $49.12.

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