HM Payson & Co. Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

HM Payson & Co. lifted its position in Wells Fargo & Company (NYSE:WFC) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,705 shares of the financial services provider’s stock after buying an additional 450 shares during the quarter. HM Payson & Co.’s holdings in Wells Fargo & Company were worth $3,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. PCJ Investment Counsel Ltd. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $1,465,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Wells Fargo & Company by 49.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,356 shares of the financial services provider’s stock valued at $493,000 after buying an additional 2,103 shares during the period. RKL Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $216,000. Oak Hill Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $331,000. Finally, Bradyco Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $400,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped 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 upped 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. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial upped 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 2.3 %

Shares of NYSE WFC opened at $71.01 on Friday. The stock has a market cap of $233.50 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The business has a 50-day moving average price of $76.10 and a 200 day moving average price of $68.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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 firm had revenue of $20.38 billion during 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 business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Equities research analysts forecast 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 was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.