Bryn Mawr Capital Management LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Bryn Mawr Capital Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,854 shares of the financial services provider’s stock after buying an additional 299 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Wells Fargo & Company were worth $271,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $637,000. Grimes & Company Inc. increased its holdings in Wells Fargo & Company by 3.1% during the 3rd quarter. Grimes & Company Inc. now owns 31,678 shares of the financial services provider’s stock worth $1,789,000 after acquiring an additional 949 shares during the period. Assenagon Asset Management S.A. increased its holdings in Wells Fargo & Company by 8.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after acquiring an additional 7,415 shares during the period. DT Investment Partners LLC increased its holdings in Wells Fargo & Company by 9.3% during the 3rd quarter. DT Investment Partners LLC now owns 3,851 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 327 shares during the period. Finally, Financial Partners Group LLC increased its holdings in Wells Fargo & Company by 10.4% during the 3rd quarter. Financial Partners Group LLC now owns 16,011 shares of the financial services provider’s stock worth $904,000 after acquiring an additional 1,502 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.5 %

Shares of Wells Fargo & Company stock opened at $77.43 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a 50-day simple moving average of $75.20 and a two-hundred day simple moving average of $66.90.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.