Mutual Advisors LLC Has $2.51 Million Stake in Wells Fargo & Company $WFC

Mutual Advisors LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,742 shares of the financial services provider’s stock after buying an additional 6,802 shares during the period. Mutual Advisors LLC’s holdings in Wells Fargo & Company were worth $2,512,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the second quarter valued at about $27,000. Marquette Asset Management LLC lifted its stake in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in Wells Fargo & Company during the third quarter worth about $30,000. Finally, Kilter Group LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.9%

Shares of WFC stock opened at $92.25 on Tuesday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average of $91.06 and a 200-day moving average of $85.38. The company has a market capitalization of $289.59 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.99 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Analysts Set New Price Targets

WFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Bank of America upped their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Finally, Barclays raised their price objective on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.87.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.