Mayflower Financial Advisors LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Mayflower Financial Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,447 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $2,049,693,000. Northern Trust Corp boosted its stake in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Wells Fargo & Company by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.6 %

Wells Fargo & Company stock opened at $57.59 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $53.43 and its 200-day simple moving average is $47.27. The firm has a market capitalization of $203.89 billion, a PE ratio of 11.95, a PEG ratio of 1.20 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. Wells Fargo & Company’s payout ratio is presently 29.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WFC. Robert W. Baird reissued a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. Compass Point raised their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Barclays raised their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.68.

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.