599 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 599 shares of the financial services provider’s stock, valued at approximately $29,000.

Several other institutional investors have also modified their holdings of the business. Northern Trust Corp increased its holdings in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Wells Fargo & Company by 2.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after purchasing an additional 221,459 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Wells Fargo & Company by 19.4% during the third quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock valued at $290,234,000 after purchasing an additional 1,156,106 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $60.61 on Thursday. The company’s fifty day moving average is $56.61 and its two-hundred day moving average is $49.34. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. 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 $214.57 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the business earned $1.23 EPS. The company’s revenue was up .6% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Raymond James boosted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research report on Thursday, January 18th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.85.

About Wells Fargo & Company

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.