Syon Capital LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Syon Capital LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,015 shares of the financial services provider’s stock after purchasing an additional 1,685 shares during the period. Syon Capital LLC’s holdings in Wells Fargo & Company were worth $887,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stoneridge Investment Partners LLC boosted its stake in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares during the last quarter. United Services Automobile Association grew its stake in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp lifted its holdings in Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $2,499,000. Finally, Golden State Equity Partners lifted its stake in shares of Wells Fargo & Company by 98.8% during the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock valued at $2,492,000 after buying an additional 30,316 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFC shares. Morgan Stanley raised their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Argus lifted their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Down 0.0 %

NYSE WFC traded down $0.02 on Friday, reaching $59.91. 18,711,370 shares of the stock traded hands, compared to its average volume of 19,103,287. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The company has a market cap of $212.11 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.17 and a beta of 1.19. The company has a fifty day moving average price of $56.77 and a 200-day moving average price of $49.42. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & 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.