Mosaic Family Wealth Partners LLC Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mosaic Family Wealth Partners LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,139 shares of the financial services provider’s stock after selling 226 shares during the period. Mosaic Family Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $369,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Investment Counsel Co. of Nevada purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. BNP Paribas bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Parvin Asset Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Dunhill Financial LLC lifted its position in Wells Fargo & Company by 63.7% in the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 193 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $83.47 on Tuesday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $83.95. The firm has a market capitalization of $271.62 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $76.61 and a 200 day moving average of $73.97.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. Wells Fargo & Company’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.92%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of research firms have commented on WFC. Barclays lowered their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Truist Financial raised their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Finally, TD Cowen assumed coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $80.13.

Wells Fargo & 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.