Raleigh Capital Management Inc. Has $1.14 Million Stake in Wells Fargo & Company (NYSE:WFC)

Raleigh Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 54.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,269 shares of the financial services provider’s stock after purchasing an additional 5,734 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Income Research & Management bought a new position in Wells Fargo & Company during the 3rd quarter worth $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $25,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter valued at about $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.56 on Thursday. The business has a 50-day moving average of $73.03 and a 200-day moving average of $63.82. 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 company has a market capitalization of $258.23 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.29.

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

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.