Wells Fargo & Company (NYSE:WFC) Stock Holdings Increased by Mission Wealth Management LP

Mission Wealth Management LP grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 85,679 shares of the financial services provider’s stock after acquiring an additional 3,813 shares during the quarter. Mission Wealth Management LP’s holdings in Wells Fargo & Company were worth $6,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pure Financial Advisors LLC increased its stake in Wells Fargo & Company by 4.8% during the 3rd quarter. Pure Financial Advisors LLC now owns 17,635 shares of the financial services provider’s stock valued at $996,000 after buying an additional 815 shares during the period. GFS Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1,137.0% in the third quarter. GFS Advisors LLC now owns 4,948 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 4,548 shares in the last quarter. Nvwm LLC increased its stake in shares of Wells Fargo & Company by 4.8% during the third quarter. Nvwm LLC now owns 30,422 shares of the financial services provider’s stock valued at $1,719,000 after acquiring an additional 1,391 shares during the period. KG&L Capital Management LLC raised its holdings in Wells Fargo & Company by 141.6% during the third quarter. KG&L Capital Management LLC now owns 27,334 shares of the financial services provider’s stock worth $1,479,000 after purchasing an additional 16,019 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its position in Wells Fargo & Company by 8.8% in the third quarter. Intact Investment Management Inc. now owns 180,150 shares of the financial services provider’s stock worth $10,177,000 after purchasing an additional 14,500 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $78.35 on Monday. The firm has a market capitalization of $257.63 billion, a P/E ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18. The stock has a fifty day moving average of $75.87 and a 200-day moving average of $67.96. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.