Grimes & Company Inc. Acquires 700 Shares of Wells Fargo & Company (NYSE:WFC)

Grimes & Company Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,378 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. Grimes & Company Inc.’s holdings in Wells Fargo & Company were worth $2,274,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WFC. AQR Capital Management LLC raised its stake in shares of Wells Fargo & Company by 55.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,023,779 shares of the financial services provider’s stock worth $59,901,000 after acquiring an additional 365,600 shares in the last quarter. Lighthouse Investment Partners LLC raised its stake in shares of Wells Fargo & Company by 34.1% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 72,708 shares of the financial services provider’s stock worth $4,318,000 after acquiring an additional 18,508 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 54.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 305 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of Wells Fargo & Company by 7.5% during the 2nd quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 592 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Wells Fargo & Company by 9.4% during the 2nd quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock valued at $2,312,000 after purchasing an additional 3,347 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $77.23 on Friday. The company’s fifty day moving average price is $73.19 and its 200 day moving average price is $64.04. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.30. The company 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. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

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.