Wells Fargo & Company (NYSE:WFC) Shares Bought by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc raised its holdings in Wells Fargo & Company (NYSE:WFC) by 152.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,582 shares of the financial services provider’s stock after acquiring an additional 10,001 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Wells Fargo & Company were worth $816,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. HSBC lifted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley lifted 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. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Compass Point reiterated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Argus lifted 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. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Trading Down 1.1 %

Shares of NYSE:WFC traded down $0.67 during trading on Thursday, reaching $59.93. 23,982,636 shares of the stock were exchanged, compared to its average volume of 19,119,436. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The firm has a market cap of $212.18 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The firm’s 50-day moving average price is $56.61 and its 200 day moving average price is $49.34.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Company Profile

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.