Wells Fargo & Company (NYSE:WFC) Shares Bought by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 37.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,896 shares of the financial services provider’s stock after acquiring an additional 53,773 shares during the period. Chesley Taft & Associates LLC’s holdings in Wells Fargo & Company were worth $13,760,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in Wells Fargo & Company by 2.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 53,149 shares of the financial services provider’s stock valued at $3,733,000 after purchasing an additional 1,381 shares during the last quarter. Charles Schwab Trust Co purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $238,000. Royal Fund Management LLC grew its stake in Wells Fargo & Company by 232.1% in the 4th quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock valued at $4,470,000 after acquiring an additional 44,472 shares during the last quarter. Ballentine Partners LLC increased its holdings in Wells Fargo & Company by 4.1% during the 4th quarter. Ballentine Partners LLC now owns 41,289 shares of the financial services provider’s stock valued at $2,900,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Culbertson A N & Co. Inc. raised its position in Wells Fargo & Company by 7.9% during the fourth quarter. Culbertson A N & Co. Inc. now owns 71,406 shares of the financial services provider’s stock worth $5,016,000 after acquiring an additional 5,219 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WFC. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.22 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $257.11 billion, a PE ratio of 14.35, a P/E/G ratio of 1.16 and a beta of 1.18. The company’s fifty day simple moving average is $72.83 and its 200-day simple moving average is $63.60. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

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.