Headlands Technologies LLC Takes $402,000 Position in Wells Fargo & Company (NYSE:WFC)

Headlands Technologies LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 8,177 shares of the financial services provider’s stock, valued at approximately $402,000.

Other institutional investors have also recently made changes to their positions in the company. Panagora Asset Management Inc. grew its stake in Wells Fargo & Company by 131.0% in the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after purchasing an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in Wells Fargo & Company by 87.8% in the fourth quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after acquiring an additional 1,549,979 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter worth about $54,894,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Wells Fargo & Company by 37.7% in the third quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after acquiring an additional 1,166,000 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded down $0.02 on Friday, reaching $59.91. The company’s stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The company has a market capitalization of $212.11 billion, a P/E ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The stock has a 50-day moving average price of $56.93 and a 200-day moving average price of $49.56. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted 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 return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.06 EPS for the current year.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Evercore ISI lifted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $58.85.

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.