Wells Fargo & Company (NYSE:WFC) Stock Holdings Increased by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,810 shares of the financial services provider’s stock after buying an additional 1,810 shares during the period. Picton Mahoney Asset Management’s holdings in Wells Fargo & Company were worth $6,930,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Baystate Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares during the period. NBT Bank N A NY grew its position in Wells Fargo & Company by 10.8% in the third quarter. NBT Bank N A NY now owns 41,902 shares of the financial services provider’s stock worth $1,712,000 after acquiring an additional 4,092 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Wells Fargo & Company by 7.0% during the 3rd quarter. Park Avenue Securities LLC now owns 57,221 shares of the financial services provider’s stock worth $2,338,000 after purchasing an additional 3,721 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Wells Fargo & Company by 17.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 8,291 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Gratus Capital LLC lifted its stake in shares of Wells Fargo & Company by 58.2% in the 3rd quarter. Gratus Capital LLC now owns 8,778 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 3,229 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.97 during midday trading on Wednesday, hitting $61.23. 18,626,876 shares of the company were exchanged, compared to its average volume of 18,897,705. The firm has a 50 day simple moving average of $57.86 and a 200-day simple moving average of $50.62. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $213.47 billion, a P/E ratio of 12.78, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the business earned $1.23 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. HSBC boosted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Piper Sandler cut their price objective 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. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & 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.