Bank of New York Mellon Corp Has $1.44 Billion Holdings in Wells Fargo & Company (NYSE:WFC)

Bank of New York Mellon Corp decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,437,936 shares of the financial services provider’s stock after selling 1,063,134 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Wells Fargo & Company worth $1,435,561,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WFC. Hennion & Walsh Asset Management Inc. bought a new position in Wells Fargo & Company in the third quarter valued at approximately $637,000. Assenagon Asset Management S.A. boosted its holdings in shares of Wells Fargo & Company by 8.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after purchasing an additional 7,415 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Wells Fargo & Company by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 19,801 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 3,228 shares in the last quarter. Modera Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Wells Fargo & Company by 22.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 38,981 shares of the financial services provider’s stock worth $2,202,000 after buying an additional 7,276 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC opened at $77.10 on Tuesday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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’s fifty day moving average is $75.30 and its 200-day moving average is $67.28. The firm has a market cap of $256.72 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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 company had revenue of $20.38 billion for 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 firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WFC. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat, Wells Fargo & 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.