PFG Advisors raised its position in Wells Fargo & Company (NYSE:WFC) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,046 shares of the financial services provider’s stock after acquiring an additional 302 shares during the period. PFG Advisors’ holdings in Wells Fargo & Company were worth $578,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in WFC. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Parvin Asset Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Dunhill Financial LLC increased its holdings in Wells Fargo & Company by 63.7% during the 4th 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 in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 75.90% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on WFC shares. Evercore ISI reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.39.
Check Out Our Latest Research Report on Wells Fargo & Company
Wells Fargo & Company Trading Up 0.2%
Wells Fargo & Company stock opened at $83.86 on Friday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $84.83. The stock has a market capitalization of $272.91 billion, a P/E ratio of 14.36, a PEG ratio of 1.30 and a beta of 1.16. The stock has a 50-day simple moving average of $77.70 and a 200 day simple moving average of $74.50. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Analysts expect 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 initiated a share repurchase program on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 27.40%.
Wells Fargo & Company Profile
(Free Report)
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.
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