Woodward Diversified Capital LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Woodward Diversified Capital LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,054 shares of the financial services provider’s stock after buying an additional 398 shares during the quarter. Wells Fargo & Company accounts for approximately 4.1% of Woodward Diversified Capital LLC’s holdings, making the stock its 4th biggest holding. Woodward Diversified Capital LLC’s holdings in Wells Fargo & Company were worth $5,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $28,000. Parvin Asset Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Dunhill Financial LLC grew its holdings in shares of 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. Finally, Orion Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $35,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $79.90 on Thursday. 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 1 year low of $50.15 and a 1 year high of $83.95. The company has a market cap of $260.00 billion, a PE ratio of 13.68, a PEG ratio of 1.33 and a beta of 1.16. The company’s 50-day moving average is $76.85 and its two-hundred day moving average is $74.05.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.33%. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the prior year, the company posted $1.33 EPS. The company’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.40%.

Wells Fargo & Company announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Truist Financial upped their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Citigroup reiterated a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Barclays reduced their price target on shares of 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. Finally, The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.39.

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.