Wells Fargo & Company (NYSE:WFC) Stake Lifted by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. boosted its position in Wells Fargo & Company (NYSE:WFC) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,082 shares of the financial services provider’s stock after purchasing an additional 747 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Wells Fargo & Company were worth $1,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company by 2.0% in the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after buying an additional 11,037 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its holdings in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC opened at $77.22 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The stock has a 50-day moving average of $72.74 and a 200-day moving average of $63.46. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WFC. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.