Pacer Advisors Inc. Raises Position in Wells Fargo & Company (NYSE:WFC)

Pacer Advisors Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 72.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 435,306 shares of the financial services provider’s stock after buying an additional 182,920 shares during the period. Pacer Advisors Inc.’s holdings in Wells Fargo & Company were worth $30,576,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WFC. Ascent Group LLC boosted its holdings in Wells Fargo & Company by 9.4% during the second quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock worth $2,312,000 after purchasing an additional 3,347 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $343,000. Silver Lake Advisory LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $487,000. William B. Walkup & Associates Inc. bought a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $1,070,000. Finally, Quarry LP purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $105,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Up 0.8 %

Shares of WFC opened at $77.90 on Tuesday. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The stock has a market cap of $259.37 billion, a PE ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $73.19 and its 200-day moving average price is $64.10.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & 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.