Wells Fargo & Company (NYSE:WFC) Shares Purchased by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,935 shares of the financial services provider’s stock after acquiring an additional 540 shares during the quarter. Wells Fargo & Company accounts for about 0.4% of Meridian Wealth Partners LLC’s investment portfolio, making the stock its 26th largest holding. Meridian Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WFC. First Financial Corp IN raised its stake in shares of Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares during the period. CX Institutional increased its holdings in Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC raised its position in Wells Fargo & Company by 3.5% in the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership lifted its stake in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Finally, Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.02 during mid-day trading 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 current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The business has a 50 day moving average price of $56.93 and a 200-day moving average price of $49.63. The firm has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. 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 last year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side 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.