Mercer Global Advisors Inc. ADV Acquires 23,989 Shares of Wells Fargo & Company (NYSE:WFC)

Mercer Global Advisors Inc. ADV grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,573 shares of the financial services provider's stock after acquiring an additional 23,989 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Wells Fargo & Company were worth $45,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Spinnaker Trust lifted its stake in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after purchasing an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after buying an additional 130 shares during the last quarter. MONECO Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after buying an additional 134 shares during the period. Crown Wealth Group LLC raised its stake in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after acquiring an additional 140 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its stake in Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock worth $1,580,000 after acquiring an additional 144 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

WFC stock traded up $1.95 during midday trading on Friday, hitting $73.76. The stock had a trading volume of 18,345,997 shares, compared to its average volume of 17,545,830. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50-day simple moving average of $69.37 and a 200 day simple moving average of $71.87. The firm has a market capitalization of $240.84 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm's revenue was down 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Analyst Ratings Changes

A number of analysts recently weighed in on WFC shares. Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Piper Sandler decreased their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $75.34.

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.