Outlook Wealth Advisors LLC Acquires Shares of 3,642 Wells Fargo & Company (NYSE:WFC)

Outlook Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,642 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. MBL Wealth LLC lifted its stake in Wells Fargo & Company by 5.4% in the first quarter. MBL Wealth LLC now owns 4,724 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 244 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Wells Fargo & Company by 3.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 110,933 shares of the financial services provider’s stock valued at $6,430,000 after buying an additional 3,299 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 6.3% during the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 7,495 shares of the financial services provider’s stock valued at $434,000 after buying an additional 443 shares during the last quarter. Cohen Investment Advisors LLC grew its stake in shares of Wells Fargo & Company by 12.2% during the 1st quarter. Cohen Investment Advisors LLC now owns 45,878 shares of the financial services provider’s stock worth $2,659,000 after acquiring an additional 4,998 shares during the period. Finally, FORVIS Wealth Advisors LLC raised its stake in Wells Fargo & Company by 154.2% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock valued at $1,578,000 after acquiring an additional 16,515 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. HSBC upped their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC stock traded down $0.02 during mid-day trading on Friday, reaching $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 capitalization of $212.11 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The stock’s 50-day moving average price is $56.93 and its two-hundred day moving average price is $49.56. 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 52-week low of $36.40 and a 52-week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

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.