Wells Fargo & Company (NYSE:WFC) Stock Position Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 398,874 shares of the financial services provider’s stock after selling 20,279 shares during the period. Mutual of America Capital Management LLC’s holdings in Wells Fargo & Company were worth $28,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 2.3 %

Shares of NYSE:WFC opened at $78.35 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $260.87 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a 50 day moving average price of $75.87 and a 200 day moving average price of $67.75.

Wells Fargo & Company (NYSE:WFC) last released 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates 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 revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared 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 2.04%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their price objective 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. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company 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.