Wells Fargo & Company (NYSE:WFC) Stock Holdings Lifted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 988,082 shares of the financial services provider’s stock after purchasing an additional 82,324 shares during the period. Nisa Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $70,934,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WFC. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. boosted its stake in shares of 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 in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, Dunhill Financial LLC lifted its holdings in Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.6%

WFC stock traded up $0.48 during midday trading on Wednesday, hitting $82.07. The company’s stock had a trading volume of 854,771 shares, compared to its average volume of 17,340,465. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $83.95. The company has a market cap of $267.08 billion, a PE ratio of 14.75, a P/E/G ratio of 1.38 and a beta of 1.16. The firm’s 50-day moving average is $75.81 and its 200-day moving average is $73.64.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 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 analysts’ expectations 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 was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Wells Fargo & Company declared that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Barclays cut their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Evercore ISI reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Tuesday. Finally, Raymond James Financial lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $78.33.

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.