Schaper Benz & Wise Investment Counsel Inc. WI Has $25.84 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Schaper Benz & Wise Investment Counsel Inc. WI lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 359,888 shares of the financial services provider’s stock after selling 1,669 shares during the period. Wells Fargo & Company comprises about 2.1% of Schaper Benz & Wise Investment Counsel Inc. WI’s portfolio, making the stock its 11th biggest holding. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Wells Fargo & Company were worth $25,836,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company during the 4th quarter worth $28,000. BNP Paribas bought a new stake in Wells Fargo & Company during the 4th quarter worth $28,000. Rakuten Securities Inc. grew its position in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFC. Evercore ISI boosted their price objective on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. TD Cowen began coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $76.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Piper Sandler restated an “overweight” rating and set a $85.00 price objective (up previously from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Finally, Barclays reduced their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.68.

Wells Fargo & Company Stock Up 1.0%

Shares of NYSE:WFC opened at $73.07 on Tuesday. The company has a market capitalization of $237.78 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50-day moving average is $71.65 and its 200-day moving average is $72.85. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is 28.73%.

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

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.