Mondrian Investment Partners LTD Purchases New Holdings in Wells Fargo & Company $WFC

Mondrian Investment Partners LTD acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,651,134 shares of the financial services provider’s stock, valued at approximately $138,398,000. Wells Fargo & Company makes up about 2.3% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 17th biggest position. Mondrian Investment Partners LTD owned 0.05% of Wells Fargo & Company at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Main Street Group LTD grew its position in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after buying an additional 118 shares in the last quarter. Hidden Cove Wealth Management LLC raised its holdings in Wells Fargo & Company by 2.0% in the third quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 119 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in Wells Fargo & Company by 2.0% during the 3rd quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 122 shares during the last quarter. Embree Financial Group grew its holdings in Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 126 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in Wells Fargo & Company by 1.1% during the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 126 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. HSBC reaffirmed a “hold” rating and set a $74.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. CICC Research assumed coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 target price for the company. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research report on Friday. Finally, Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Wells Fargo & Company Price Performance

Shares of WFC opened at $86.94 on Tuesday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The stock has a fifty day moving average price of $91.74 and a 200 day moving average price of $85.97. The company has a market cap of $272.92 billion, a P/E ratio of 13.87, a PEG ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. During the same period last year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts forecast 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 will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a $0.45 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Wells Fargo & Company Profile

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.