Mainstay Capital Management LLC ADV Buys 4,680 Shares of Wells Fargo & Company (NYSE:WFC)

Mainstay Capital Management LLC ADV grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 30.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,832 shares of the financial services provider’s stock after acquiring an additional 4,680 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Wells Fargo & Company were worth $1,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Colonial River Investments LLC grew its stake in shares of Wells Fargo & Company by 5.3% in the fourth quarter. Colonial River Investments LLC now owns 14,537 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 730 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 100,599 shares of the financial services provider’s stock worth $7,066,000 after purchasing an additional 9,269 shares during the last quarter. Partners Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $363,000. Black Diamond Financial LLC grew its stake in shares of Wells Fargo & Company by 3.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,814 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 151 shares during the last quarter. Finally, Delta Financial Group Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $735,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.5 %

NYSE:WFC opened at $77.43 on Monday. 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 firm has a market cap of $257.81 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm has a 50-day moving average price of $75.20 and a two-hundred day moving average price of $67.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 analyst estimates 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 for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company 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 data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.