3,433 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Motive Wealth Advisors

Motive Wealth Advisors acquired 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 (SEC). The firm acquired 3,433 shares of the financial services provider’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cardinal Capital Management Inc. lifted its position in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC grew its holdings in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. increased its stake in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $77.49 on Friday. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The stock has a market capitalization of $258.00 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.17 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. The stock’s fifty day moving average is $73.03 and its two-hundred day moving average is $63.82.

Wells Fargo & Company (NYSE:WFC) last posted 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.