Nilsine Partners LLC Acquires 553 Shares of Wells Fargo & Company (NYSE:WFC)

Nilsine Partners LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,961 shares of the financial services provider’s stock after purchasing an additional 553 shares during the period. Nilsine Partners LLC’s holdings in Wells Fargo & Company were worth $572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Shakespeare Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 130 shares during the period. MONECO Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 134 shares during the period. Safeguard Investment Advisory Group LLC raised its holdings in shares of Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 137 shares during the period. Crown Wealth Group LLC raised its holdings in shares of Wells Fargo & Company by 2.2% during the 4th 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 holdings in shares of Wells Fargo & Company by 0.6% during the 4th 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. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.8%

Shares of NYSE:WFC opened at $75.33 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $245.14 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. The firm’s 50-day moving average is $72.42 and its two-hundred day moving average is $72.86. 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 issued 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. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its board has authorized a share buyback program on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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 paid 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 2.12%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WFC. Raymond James Financial reiterated a “strong-buy” rating on shares of Wells Fargo & Company in a report on Wednesday. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $76.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Evercore ISI lifted their price target on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. TD Cowen assumed coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $77.98.

Wells Fargo & 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.