Outlook Wealth Advisors LLC Takes $211,000 Position in Wells Fargo & Company (NYSE:WFC)

Outlook Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,642 shares of the financial services provider’s stock, valued at approximately $211,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. LSV Asset Management boosted its position in Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after buying an additional 2,677,050 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Wells Fargo & Company by 131.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after buying an additional 1,958,483 shares during the period. Morningstar Investment Services LLC raised its position in shares of Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after acquiring an additional 1,951,477 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.0 %

Shares of WFC traded down $0.02 during midday trading on Friday, hitting $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The firm has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a 50 day simple moving average of $56.93 and a two-hundred day simple moving average of $49.56. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate 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 business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. HSBC boosted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research note on Thursday, January 18th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Jefferies Financial Group raised their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Piper Sandler dropped their price objective 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. 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 stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.85.

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.