Wells Fargo & Company (NYSE:WFC) Stock Position Raised by Wynn Capital LLC

Wynn Capital LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 28.8% in the first quarter, Holdings Channel.com reports. The fund owned 54,736 shares of the financial services provider’s stock after buying an additional 12,245 shares during the period. Wells Fargo & Company makes up approximately 2.3% of Wynn Capital LLC’s investment portfolio, making the stock its 10th largest position. Wynn Capital LLC’s holdings in Wells Fargo & Company were worth $3,929,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 431 shares during the last quarter. NatWest Group plc increased its holdings in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $1,656,000. Finally, Modera Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after acquiring an additional 2,548 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 2.0%

Shares of WFC stock opened at $76.38 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a fifty day moving average of $70.42 and a two-hundred day moving average of $72.97. The firm has a market capitalization of $248.55 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $85.00 price objective (up from $75.00) on shares of Wells Fargo & Company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Morgan Stanley upped their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays lowered their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.48.

About Wells Fargo & Company

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.