Pathstone Holdings LLC Buys 13,782 Shares of Wells Fargo & Company (NYSE:WFC)

Pathstone Holdings LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 369,024 shares of the financial services provider’s stock after purchasing an additional 13,782 shares during the quarter. Pathstone Holdings LLC’s holdings in Wells Fargo & Company were worth $25,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Mufg Securities Americas Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $3,874,000. Nearwater Capital Markets Ltd bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $37,578,000. NorthRock Partners LLC increased its holdings in shares of Wells Fargo & Company by 182.1% in the fourth quarter. NorthRock Partners LLC now owns 74,753 shares of the financial services provider’s stock worth $5,251,000 after acquiring an additional 48,254 shares in the last quarter. Northeast Financial Consultants Inc increased its holdings in shares of Wells Fargo & Company by 13.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 5,186 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 615 shares in the last quarter. Finally, Obermeyer Wealth Partners increased its holdings in shares of Wells Fargo & Company by 28.3% in the fourth quarter. Obermeyer Wealth Partners now owns 17,874 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 3,939 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Bank of America decreased their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Finally, Piper Sandler decreased their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $76.17 on Thursday. The firm has a 50-day moving average of $69.24 and a 200-day moving average of $72.35. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a market cap of $247.87 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. 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 quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter last year, the firm posted $1.20 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

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.