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

Bryn Mawr Capital Management LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other institutional investors have also recently made changes to their positions in WFC. Pinnacle Associates Ltd. increased its holdings in shares of Wells Fargo & Company by 3.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 202,013 shares of the financial services provider’s stock valued at $11,412,000 after purchasing an additional 7,105 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in Wells Fargo & Company by 4.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 7,323 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 311 shares during the last quarter. Voisard Asset Management Group Inc. boosted its position in shares of Wells Fargo & Company by 16.9% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,571 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 227 shares during the last quarter. HM Payson & Co. boosted its position in shares of Wells Fargo & Company by 8.5% during the 3rd quarter. HM Payson & Co. now owns 44,255 shares of the financial services provider’s stock valued at $2,500,000 after acquiring an additional 3,451 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of Wells Fargo & Company by 43.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,419,753 shares of the financial services provider’s stock valued at $80,202,000 after acquiring an additional 431,498 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.2 %

WFC stock opened at $76.61 on Friday. The company’s 50 day moving average price is $75.71 and its 200 day moving average price is $67.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a market capitalization of $255.06 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of research analysts have commented on WFC shares. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on shares of 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. Finally, Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Profile

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.