Mattson Financial Services LLC Makes New Investment in Wells Fargo & Company $WFC

Mattson Financial Services LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,474 shares of the financial services provider’s stock, valued at approximately $962,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. Kilter Group LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $31,000. Finally, Nova Wealth Management Inc. raised its position in shares of Wells Fargo & Company by 112.9% during the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays increased their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Bank of America lifted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Truist Financial raised their price target on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $92.04.

Wells Fargo & Company Stock Down 0.0%

WFC opened at $95.26 on Monday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $95.85. The business has a 50-day moving average of $87.92 and a two-hundred day moving average of $83.09. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $299.04 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.