Nalls Sherbakoff Group LLC Buys New Position in Wells Fargo & Co (WFC)

Nalls Sherbakoff Group LLC bought a new position in shares of Wells Fargo & Co (NYSE:WFC) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 693 shares of the financial services provider’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Telos Capital Management Inc. raised its stake in Wells Fargo & Co by 4.2% in the 4th quarter. Telos Capital Management Inc. now owns 5,390 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 216 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in shares of Wells Fargo & Co by 3.6% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 6,600 shares of the financial services provider’s stock valued at $304,000 after buying an additional 229 shares during the period. Massey Quick Simon & CO. LLC increased its position in shares of Wells Fargo & Co by 8.0% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 3,354 shares of the financial services provider’s stock valued at $155,000 after buying an additional 249 shares during the period. Bray Capital Advisors increased its position in shares of Wells Fargo & Co by 2.7% during the fourth quarter. Bray Capital Advisors now owns 9,935 shares of the financial services provider’s stock valued at $458,000 after buying an additional 257 shares during the period. Finally, Golub Group LLC increased its position in shares of Wells Fargo & Co by 0.8% during the fourth quarter. Golub Group LLC now owns 32,255 shares of the financial services provider’s stock valued at $1,486,000 after buying an additional 264 shares during the period. Institutional investors own 72.19% of the company’s stock.

Shares of NYSE WFC opened at $47.58 on Friday. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.35. The stock has a market cap of $232.08 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The company had revenue of $21.61 billion during the quarter, compared to analyst estimates of $20.89 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Sell-side analysts anticipate that Wells Fargo & Co will post 4.84 EPS for the current year.

Several brokerages have recently weighed in on WFC. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Goldman Sachs Group cut Wells Fargo & Co from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.00 to $48.00 in a research report on Friday, April 12th. Barclays decreased their price target on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Morgan Stanley decreased their price target on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Finally, Deutsche Bank decreased their price target on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and a consensus target price of $56.35.

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Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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