HM Payson & Co. Acquires 175,816 Shares of Wells Fargo & Company $WFC

HM Payson & Co. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 409.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 218,704 shares of the financial services provider’s stock after acquiring an additional 175,816 shares during the period. HM Payson & Co.’s holdings in Wells Fargo & Company were worth $18,332,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares during the period. AlphaQuest LLC bought a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $155,000. State of Wyoming purchased a new position in shares of Wells Fargo & Company in the first quarter worth approximately $228,000. WPG Advisers LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $62,000. Finally, Evergreen Capital Management LLC grew its position in shares of Wells Fargo & Company by 8.9% during the 1st quarter. Evergreen Capital Management LLC now owns 29,573 shares of the financial services provider’s stock valued at $2,123,000 after acquiring an additional 2,407 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial upped their price target on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. UBS Group decreased their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, TD Cowen upped their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.04.

Wells Fargo & Company Stock Down 0.0%

NYSE:WFC opened at $95.26 on Monday. The company has a market cap of $299.04 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.99 and a beta of 1.11. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $95.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s fifty day moving average price is $87.92 and its two-hundred day moving average price is $83.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the prior year, the business posted $1.42 EPS. Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.