Syon Capital LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Syon Capital LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,015 shares of the financial services provider’s stock after buying an additional 1,685 shares during the period. Syon Capital LLC’s holdings in Wells Fargo & Company were worth $887,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.02 during trading on Friday, reaching $59.91. The company had a trading volume of 18,711,370 shares, compared to its average volume of 19,103,287. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The business’s 50 day moving average price is $56.77 and its 200-day moving average price is $49.42. The stock has a market cap of $212.11 billion, a PE ratio of 12.53, a PEG ratio of 1.17 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly 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. The company had revenue of $20.86 billion during 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%. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 EPS. Analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price 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.