DMC Group LLC Has $1.23 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

DMC Group LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,550 shares of the financial services provider’s stock after selling 1,823 shares during the quarter. Wells Fargo & Company comprises about 1.0% of DMC Group LLC’s investment portfolio, making the stock its 27th largest position. DMC Group LLC’s holdings in Wells Fargo & Company were worth $1,233,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective 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. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Up 0.7 %

Wells Fargo & Company stock opened at $78.41 on Thursday. The company has a fifty day simple moving average of $73.35 and a 200 day simple moving average of $64.38. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.98. The company has a market cap of $261.07 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal 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 Friday, February 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.