Delta Investment Management LLC Grows Holdings in Wells Fargo & Company (NYSE:WFC)

Delta Investment Management LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,320 shares of the financial services provider’s stock after purchasing an additional 384 shares during the period. Delta Investment Management LLC’s holdings in Wells Fargo & Company were worth $360,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Wells Fargo & Company by 12.7% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 424 shares during the period. Boston Trust Walden Corp boosted its position in Wells Fargo & Company by 7.4% during the third quarter. Boston Trust Walden Corp now owns 14,515 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 1,000 shares during the last quarter. CX Institutional boosted its position in Wells Fargo & Company by 2.6% during the third quarter. CX Institutional now owns 20,063 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 500 shares during the last quarter. Zullo Investment Group Inc. boosted its position in Wells Fargo & Company by 3.7% during the third quarter. Zullo Investment Group Inc. now owns 7,064 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 253 shares during the last quarter. Finally, MCF Advisors LLC boosted its position in Wells Fargo & Company by 3.1% during the third quarter. MCF Advisors LLC now owns 9,376 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Piper Sandler decreased their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Down 0.0 %

WFC traded down $0.02 during trading hours on Friday, hitting $59.91. 18,785,900 shares of the company’s stock were exchanged, compared to its average volume of 18,078,044. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The firm has a 50 day moving average of $56.93 and a 200 day moving average of $49.56. The firm has a market cap of $212.11 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

About Wells Fargo & Company

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.