Pointe Capital Management LLC Has $875,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Pointe Capital Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,460 shares of the financial services provider’s stock after buying an additional 164 shares during the quarter. Pointe Capital Management LLC’s holdings in Wells Fargo & Company were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised its holdings in Wells Fargo & Company by 2.1% in the fourth quarter. Checchi Capital Advisers LLC now owns 54,313 shares of the financial services provider’s stock worth $3,815,000 after purchasing an additional 1,126 shares during the period. Bryn Mawr Capital Management LLC increased its position in shares of Wells Fargo & Company by 8.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 3,854 shares of the financial services provider’s stock valued at $271,000 after buying an additional 299 shares in the last quarter. Sabal Trust CO raised its stake in Wells Fargo & Company by 88.1% during the 4th quarter. Sabal Trust CO now owns 20,528 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 9,616 shares during the period. Nelson Capital Management LLC lifted its holdings in Wells Fargo & Company by 1,692.5% during the fourth quarter. Nelson Capital Management LLC now owns 2,868 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 2,708 shares in the last quarter. Finally, DMKC Advisory Services LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $3,981,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WFC. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 1.6 %

NYSE WFC opened at $75.95 on Wednesday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average of $75.40 and a 200-day moving average of $67.44. The company has a market cap of $252.87 billion, a PE ratio of 14.12, a PEG ratio of 1.18 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company 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.