Mine & Arao Wealth Creation & Management LLC. Has $2.26 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Mine & Arao Wealth Creation & Management LLC. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,178 shares of the financial services provider’s stock after selling 216 shares during the quarter. Wells Fargo & Company accounts for about 1.0% of Mine & Arao Wealth Creation & Management LLC.’s holdings, making the stock its 16th biggest position. Mine & Arao Wealth Creation & Management LLC.’s holdings in Wells Fargo & Company were worth $2,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WFC. Advisory Alpha LLC lifted its position in shares of Wells Fargo & Company by 5.2% in the 2nd quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 270 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $26,000. Heritage Wealth Management Inc. purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $223,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Wells Fargo & Company by 39.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,339,800 shares of the financial services provider’s stock worth $138,961,000 after buying an additional 660,800 shares during the period. Finally, Alternative Investment Advisors LLC. acquired a new position in Wells Fargo & Company during the second quarter valued at $276,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $78.89 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.24. The company has a fifty day moving average price of $73.45 and a 200 day moving average price of $64.48. The stock has a market cap of $262.67 billion, a P/E ratio of 14.66, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is currently 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.