Wells Fargo & Company (NYSE:WFC) Holdings Raised by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,200 shares of the financial services provider’s stock after purchasing an additional 4,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Wells Fargo & Company were worth $14,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WFC. Mesirow Financial Investment Management Inc. lifted its position in shares of Wells Fargo & Company by 111.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after acquiring an additional 18,138 shares in the last quarter. Covestor Ltd raised its stake in Wells Fargo & Company by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 196 shares during the period. Axxcess Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 22.6% in the third quarter. Axxcess Wealth Management LLC now owns 80,033 shares of the financial services provider’s stock valued at $4,521,000 after purchasing an additional 14,728 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Wells Fargo & Company by 3.6% in the third quarter. Mayflower Financial Advisors LLC now owns 5,316 shares of the financial services provider’s stock worth $300,000 after buying an additional 184 shares during the period. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Wells Fargo & Company by 4.4% during the third quarter. Baker Avenue Asset Management LP now owns 28,151 shares of the financial services provider’s stock valued at $1,590,000 after buying an additional 1,194 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 6.3 %

WFC opened at $66.60 on Tuesday. 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 market capitalization of $218.98 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.18 and a beta of 1.16. The business has a 50 day moving average of $76.02 and a 200-day moving average of $68.67. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. 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. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WFC. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial raised their price target 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. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup raised their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

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.