Jaffetilchin Investment Partners LLC Has $1.64 Million Stake in Wells Fargo & Company (NYSE:WFC)

Jaffetilchin Investment Partners LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,873 shares of the financial services provider’s stock after purchasing an additional 372 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Wells Fargo & Company were worth $1,642,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP increased its stake in shares of Wells Fargo & Company by 26.9% in the first quarter. Artemis Investment Management LLP now owns 1,744,072 shares of the financial services provider’s stock worth $125,207,000 after acquiring an additional 369,260 shares during the last quarter. Holistic Planning LLC grew its stake in Wells Fargo & Company by 3.8% in the first quarter. Holistic Planning LLC now owns 7,513 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 275 shares in the last quarter. PDS Planning Inc increased its position in Wells Fargo & Company by 17.3% in the 1st quarter. PDS Planning Inc now owns 11,870 shares of the financial services provider’s stock worth $852,000 after purchasing an additional 1,754 shares during the last quarter. Investment Advisory Services Inc. TX ADV purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $201,000. Finally, KG&L Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.8% during the 1st quarter. KG&L Capital Management LLC now owns 10,227 shares of the financial services provider’s stock valued at $734,000 after buying an additional 183 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $80.02 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 company has a market cap of $260.39 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The firm has a fifty day moving average price of $73.58 and a two-hundred day moving average price of $73.01. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week 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 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion during 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 firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm 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 2.00%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company’s payout ratio is 28.73%.

Wells Fargo & Company declared that its board has initiated a stock buyback program on Tuesday, April 29th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFC. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Piper Sandler reissued an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Finally, TD Cowen assumed coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target for the company. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $77.98.

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.