3,094 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,094 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other large investors have also made changes to their positions in WFC. Redhawk Wealth Advisors Inc. boosted its stake in Wells Fargo & Company by 31.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 1,493 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Wells Fargo & Company by 133.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,495 shares of the financial services provider’s stock worth $197,000 after buying an additional 2,000 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $81,000. Iams Wealth Management LLC grew its stake in Wells Fargo & Company by 8.8% during the third quarter. Iams Wealth Management LLC now owns 35,145 shares of the financial services provider’s stock valued at $1,985,000 after acquiring an additional 2,835 shares in the last quarter. Finally, PFG Advisors grew its stake in Wells Fargo & Company by 3.6% during the third quarter. PFG Advisors now owns 101,761 shares of the financial services provider’s stock valued at $5,748,000 after acquiring an additional 3,536 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $79.66 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average is $73.97 and its two-hundred day moving average is $65.64. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. The company has a market capitalization of $265.23 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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 was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WFC shares. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup lifted their price objective 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, Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.