Schonfeld Strategic Advisors LLC Acquires 283,390 Shares of Wells Fargo & Company (NYSE:WFC)

Schonfeld Strategic Advisors LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 92.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 589,272 shares of the financial services provider's stock after buying an additional 283,390 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Wells Fargo & Company were worth $41,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WFC. Norges Bank acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $3,365,658,000. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Northern Trust Corp grew its stake in Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after acquiring an additional 3,307,855 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $117,026,000. Finally, North Reef Capital Management LP boosted its position in shares of Wells Fargo & Company by 144.3% during the 4th quarter. North Reef Capital Management LP now owns 2,125,000 shares of the financial services provider's stock valued at $149,260,000 after acquiring an additional 1,255,000 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler cut their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Performance

WFC opened at $69.41 on Tuesday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $226.63 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.18 and a beta of 1.02. The company's fifty day moving average price is $69.80 and its two-hundred day moving average price is $71.68.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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