Mutual Advisors LLC Has $2.51 Million Stock Holdings in Wells Fargo & Company $WFC

Mutual Advisors LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 29.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,742 shares of the financial services provider’s stock after acquiring an additional 6,802 shares during the period. Mutual Advisors LLC’s holdings in Wells Fargo & Company were worth $2,512,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in WFC. Access Investment Management LLC acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at $30,000. Finally, Kilter Group LLC bought a new stake in Wells Fargo & Company in the second quarter valued at $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $92.25 on Tuesday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $91.06 and its 200-day moving average is $85.38. The firm has a market capitalization of $289.59 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.99 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter in the previous year, the company posted $1.43 EPS. Wells Fargo & Company’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. Wells Fargo & Company’s payout ratio is presently 28.71%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WFC shares. UBS Group cut their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Wells Fargo & Company in a report on Thursday, January 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Freedom Capital lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Finally, Truist Financial cut their target price on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.87.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.