5 Best Stocks Under $50 To Buy Now

3. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 77

Share Price as of November 28: $43.78

Established in 1852, Wells Fargo & Company (NYSE:WFC) stands as a prominent financial services entity, offering a comprehensive range of banking, investment, mortgage, consumer, and commercial finance products and services. With assets nearing $1.9 trillion, it holds a significant position as one of the leading financial services providers in the United States.

Wells Fargo & Company (NYSE:WFC) unveiled its third-quarter 2023 financial results on October 13, revealing a 7% year-over-year increase in total revenue to $20.9 billion. Concurrently, net income experienced a substantial surge, rising by 61% year-over-year to $5.8 billion. In response to these financial outcomes, on October 16, BMO Capital raised the price target for Wells Fargo & Company (NYSE:WFC) shares to $54 from $52 while maintaining a ‘Market Perform’ rating for the shares.

During Q3 2023, 77 out of the 910 hedge funds tracked by Insider Monkey were the bank’s investors. Wells Fargo & Company (NYSE:WFC)’s largest hedge fund shareholder is Eisler Capital due to its $2.23 billion stake.