Wells Fargo & Company (NYSE:WFC) Stock Position Lessened by Sather Financial Group Inc

Sather Financial Group Inc reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 60.6% during the first quarter, Holdings Channel.com reports. The firm owned 9,451 shares of the financial services provider’s stock after selling 14,532 shares during the period. Sather Financial Group Inc’s holdings in Wells Fargo & Company were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Shakespeare Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 0.9% in 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. Safeguard Investment Advisory Group LLC increased its stake in shares of Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 137 shares during the period. Summit Wealth & Retirement Planning Inc. raised its holdings in Wells Fargo & Company by 4.3% during the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 139 shares in the last quarter. Nwam LLC lifted its position in Wells Fargo & Company by 1.6% in the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 142 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its stake in 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 valued at $1,580,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.4%

NYSE:WFC opened at $84.25 on Friday. The business’s fifty day moving average price is $77.86 and its 200 day moving average price is $74.59. The firm has a market capitalization of $274.15 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.30 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 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 $84.83.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.90%. Wells Fargo & Company’s dividend payout ratio is presently 27.40%.

Analysts Set New Price Targets

A number of analysts have recently commented on WFC shares. Evercore ISI reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Wall Street Zen cut shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Finally, Truist Financial boosted 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.39.

Get Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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