Madrona Financial Services LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Madrona Financial Services LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,668 shares of the financial services provider’s stock, valued at approximately $258,000.

Several other institutional investors have also added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WFC. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $78.25 on Thursday. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.29. The company has a market cap of $260.53 billion, a PE ratio of 14.53, a P/E/G ratio of 1.18 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. The business has a 50-day simple moving average of $73.03 and a 200-day simple moving average of $63.82.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

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.