Wells Fargo & Company $WFC Shares Sold by Mather Group LLC.

Mather Group LLC. lessened its stake in Wells Fargo & Company (NYSE:WFC) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,782 shares of the financial services provider’s stock after selling 642 shares during the quarter. Mather Group LLC.’s holdings in Wells Fargo & Company were worth $1,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. Northstar Financial Companies Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $638,000. NorthCrest Asset Manangement LLC raised its position in shares of Wells Fargo & Company by 1.2% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 176,604 shares of the financial services provider’s stock worth $12,405,000 after acquiring an additional 2,129 shares during the period. 111 Capital purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $776,000. Finally, CWC Advisors LLC. grew its position in shares of Wells Fargo & Company by 2.2% during the 4th quarter. CWC Advisors LLC. now owns 16,796 shares of the financial services provider’s stock valued at $1,180,000 after acquiring an additional 365 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WFC. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Evercore ISI reissued an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Bank of America increased their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $82.97.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $84.18 on Thursday. The company has a fifty day simple moving average of $80.66 and a 200-day simple moving average of $75.62. The firm has a market capitalization of $269.65 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.30 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 52-week low of $53.31 and a 52-week high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

About Wells Fargo & Company

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.