Mount Capital Ltd Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Mount Capital Ltd decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 632,176 shares of the financial services provider’s stock after selling 72,900 shares during the quarter. Wells Fargo & Company makes up 15.8% of Mount Capital Ltd’s holdings, making the stock its largest holding. Mount Capital Ltd’s holdings in Wells Fargo & Company were worth $44,404,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Wells Fargo & Company in the 4th quarter valued at $3,365,658,000. Artisan Partners Limited Partnership bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $117,026,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $85,031,000. Korea Investment CORP boosted its stake in Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after buying an additional 1,150,443 shares during the last quarter. Finally, Artemis Investment Management LLP grew its holdings in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial dropped their price objective on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Price Performance

WFC opened at $62.11 on Tuesday. The firm has a market capitalization of $202.81 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The business’s 50-day moving average is $74.62 and its two-hundred day moving average is $70.72. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Wells Fargo & Company’s payout ratio is 29.74%.

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.