Madrona Financial Services LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Madrona Financial Services LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,668 shares of the financial services provider’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $78.25 on Thursday. The business’s 50-day moving average is $73.03 and its two-hundred day moving average is $63.82. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $260.53 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WFC. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.