Meritage Portfolio Management Has $9.57 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Meritage Portfolio Management decreased its position in Wells Fargo & Company (NYSE:WFC) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,269 shares of the financial services provider’s stock after selling 2,852 shares during the quarter. Meritage Portfolio Management’s holdings in Wells Fargo & Company were worth $9,572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WFC. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the third quarter worth $34,000. Finally, FSA Wealth Management LLC acquired a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $79.56 on Wednesday. The company has a market capitalization of $264.88 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.19 and a beta of 1.18. The stock’s 50 day moving average is $73.66 and its 200-day moving average is $65.06. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of 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. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. 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 report on Monday, December 9th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.