Mezzasalma Advisors LLC Purchases 1,245 Shares of Wells Fargo & Company (NYSE:WFC)

Mezzasalma Advisors LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,807 shares of the financial services provider’s stock after purchasing an additional 1,245 shares during the period. Mezzasalma Advisors LLC’s holdings in Wells Fargo & Company were worth $408,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its stake in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC increased its stake in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. lifted its stake in Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after buying an additional 8,107 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.8 %

WFC stock opened at $80.76 on Friday. Wells Fargo & Company has a one year low of $47.47 and a one year high of $81.50. The stock has a market cap of $268.89 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a fifty day moving average price of $73.80 and a two-hundred day moving average price of $65.28. 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 (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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 is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.