Beaumont Financial Advisors LLC Invests $208,000 in Wells Fargo & Company (NYSE:WFC)

Beaumont Financial Advisors LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,958 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Income Research & Management acquired a new position in Wells Fargo & Company in the third quarter worth about $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the second quarter worth about $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter worth about $26,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.49 on Friday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $78.30. The stock has a market cap of $258.00 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.18 and a beta of 1.18. The stock’s 50 day moving average price is $73.03 and its 200 day moving average price is $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.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal 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.