Mosaic Financial Group LLC Has $528,000 Position in Wells Fargo & Company (NYSE:WFC)

Mosaic Financial Group LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,517 shares of the financial services provider’s stock after selling 186 shares during the quarter. Mosaic Financial Group LLC’s holdings in Wells Fargo & Company were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $3,365,658,000. Two Sigma Advisers LP lifted its position in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $117,026,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $85,031,000. Finally, Korea Investment CORP raised its stake in shares of 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 worth $230,865,000 after buying an additional 1,150,443 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WFC shares. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $71.85 on Tuesday. The company has a fifty day moving average price of $75.73 and a 200 day moving average price of $70.29. The firm has a market cap of $234.59 billion, a PE ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16. 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 $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict 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 issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.