Van ECK Associates Corp Grows Stake in Wells Fargo & Company (NYSE:WFC)

Van ECK Associates Corp increased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,379,417 shares of the financial services provider's stock after acquiring an additional 276,297 shares during the period. Van ECK Associates Corp owned about 0.20% of Wells Fargo & Company worth $363,215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the fourth quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.10 during mid-day trading on Monday, reaching $59.81. 15,342,074 shares of the company's stock traded hands, compared to its average volume of 19,069,336. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average of $56.93 and a two-hundred day moving average of $49.70. The company has a market cap of $211.75 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WFC shares. Barclays lifted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Raymond James increased their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 16th. Piper Sandler lowered 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 research note on Tuesday, January 16th. StockNews.com upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 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.

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