McLean Asset Management Corp Takes $202,000 Position in Wells Fargo & Company (NYSE:WFC)

McLean Asset Management Corp bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,873 shares of the financial services provider’s stock, valued at approximately $202,000.

Other large investors also recently added to or reduced their stakes in the company. Income Research & Management purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.3 %

NYSE WFC opened at $77.23 on Monday. The firm’s fifty day moving average is $73.19 and its two-hundred day moving average is $64.10. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $257.13 billion, a PE ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. 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. Finally, Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

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.