E Fund Management Hong Kong Co. Ltd. Buys Shares of 496 Wells Fargo & Company (NYSE:WFC)

E Fund Management Hong Kong Co. Ltd. bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 496 shares of the financial services provider’s stock, valued at approximately $35,000.

Several other institutional investors also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Wells Fargo & Company by 5.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,758 shares of the financial services provider’s stock worth $1,599,000 after buying an additional 1,253 shares in the last quarter. SWP Financial LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $253,000. Clarendon Private LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $847,000. Juncture Wealth Strategies LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $256,000. Finally, B.O.S.S. Retirement Advisors LLC grew its position in shares of Wells Fargo & Company by 473.5% during the fourth quarter. B.O.S.S. Retirement Advisors LLC now owns 45,877 shares of the financial services provider’s stock worth $3,222,000 after buying an additional 37,877 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WFC shares. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $77.23 on Monday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50 day simple moving average of $73.19 and a 200-day simple moving average of $64.07. The stock has a market capitalization of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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 return on equity of 12.38% and a net margin of 15.73%. The firm 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 company posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company 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.