West Branch Capital LLC Purchases 5,979 Shares of Wells Fargo & Company (NYSE:WFC)

West Branch Capital LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 53.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,187 shares of the financial services provider’s stock after buying an additional 5,979 shares during the period. West Branch Capital LLC’s holdings in Wells Fargo & Company were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter worth about $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $77.90 on Wednesday. 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 has a 52-week low of $47.45 and a 52-week high of $78.29. The company has a market capitalization of $259.36 billion, a P/E ratio of 14.48, a PEG ratio of 1.16 and a beta of 1.18. The company has a fifty day moving average price of $72.83 and a 200-day moving average price of $63.60.

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. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on WFC shares. UBS Group raised their price objective 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. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. 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 a consensus rating of “Hold” and a consensus price target of $73.39.

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.