HM Payson & Co. Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

HM Payson & Co. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,705 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. HM Payson & Co.’s holdings in Wells Fargo & Company were worth $3,140,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake 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 worth $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Wells Fargo & Company by 17.4% during 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 raised its stake in Wells Fargo & Company by 16.4% in 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 buying an additional 18,717 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after buying an additional 131,322 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 2.3 %

Wells Fargo & Company stock opened at $71.01 on Friday. The firm has a market cap of $233.50 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The business’s 50-day moving average price is $76.10 and its 200 day moving average price is $68.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.