5 Value Stocks To Buy Today According To Mario Gabelli

4. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 93

P/E Ratio as of June 14: 7.78

Wells Fargo & Company (NYSE:WFC) is an American multinational financial services company with corporate headquarters in, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally. The company provides a wide variety of services ranging from consumer, corporate, and investment banking with an asset base of over $1.9 trillion. Mario Gabelli’s fund owns a $68 million stake in Wells Fargo as of the end of Q1.

Earlier this April, Barclays analyst Jason Goldberg raised his price target on Wells Fargo & Company (NYSE:WFC) to $64 from $62 and maintained an Overweight rating on the shares post the Q1 results. Based on the analyst’s notes, the company upped its 2022 net interest income and loan growth outlook and kept its expense forecast unchanged despite Q1 coming in higher than expected.

In its Q1 2022 earnings, Wells Fargo & Company (NYSE:WFC) posted a GAAP EPS of $0.88, which beat analysts’ estimates by $0.07. However, the company’s revenue of $17.5 billion fell short of market expectations and missed the estimates by $230 million.

According to Insider Monkey’s database, 93 hedge funds reported owning stakes in Wells Fargo & Company (NYSE:WFC) in Q1 2022, down from 94 hedge funds holding stakes in the company in the previous quarter. These 93 hedge funds hold a collective stake worth roughly $7 billion in the company.