Gamco Investors INC. ET AL Has $49.32 Million Stock Holdings in Wells Fargo & Company $WFC

Gamco Investors INC. ET AL trimmed its position in Wells Fargo & Company (NYSE:WFC) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 615,547 shares of the financial services provider’s stock after selling 87,101 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Wells Fargo & Company were worth $49,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Access Investment Management LLC bought a new stake in Wells Fargo & Company in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $27,000. 1248 Management LLC bought a new stake in Wells Fargo & Company in the 1st quarter valued at $31,000. Finally, Kilter Group LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $31,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.4%

Shares of NYSE:WFC opened at $89.86 on Friday. The business’s 50 day simple moving average is $84.63 and its 200 day simple moving average is $81.12. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $91.11. 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 company has a market capitalization of $282.08 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.93 and a beta of 1.11.

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

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.