Mainstay Capital Management LLC ADV Buys 4,680 Shares of Wells Fargo & Company (NYSE:WFC)

Mainstay Capital Management LLC ADV grew its stake in Wells Fargo & Company (NYSE:WFC) by 30.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,832 shares of the financial services provider’s stock after acquiring an additional 4,680 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Wells Fargo & Company were worth $1,393,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Colonial River Investments LLC grew its holdings in shares of Wells Fargo & Company by 5.3% in the 4th quarter. Colonial River Investments LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,021,000 after acquiring an additional 730 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 100,599 shares of the financial services provider’s stock valued at $7,066,000 after acquiring an additional 9,269 shares in the last quarter. Partners Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $363,000. Black Diamond Financial LLC grew its holdings in shares of Wells Fargo & Company by 3.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,814 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 151 shares in the last quarter. Finally, Delta Financial Group Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $735,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler lifted 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. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 1.5 %

NYSE WFC opened at $77.43 on Monday. The company has a 50 day moving average of $75.20 and a 200-day moving average of $67.11. The company has a market cap of $257.81 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18. 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 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for 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 firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, equities research analysts expect 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 Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.