Mather Group LLC. Buys 1,391 Shares of Wells Fargo & Company (NYSE:WFC)

Mather Group LLC. boosted its position in Wells Fargo & Company (NYSE:WFC) by 7.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 20,134 shares of the financial services provider’s stock after purchasing an additional 1,391 shares during the period. Mather Group LLC.’s holdings in Wells Fargo & Company were worth $1,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WFC. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Beaird Harris Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $34,000. Finally, Valued Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $57.28 on Wednesday. The stock has a market cap of $199.70 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $62.55. The company’s fifty day moving average is $55.31 and its 200 day moving average is $57.75.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $60.65.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.