Wells Fargo & Company (NYSE:WFC) Stake Lifted by Wynn Capital LLC

Wynn Capital LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,736 shares of the financial services provider’s stock after acquiring an additional 12,245 shares during the period. Wells Fargo & Company accounts for about 2.3% of Wynn Capital LLC’s investment portfolio, making the stock its 10th largest position. Wynn Capital LLC’s holdings in Wells Fargo & Company were worth $3,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. increased its position in 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 purchasing an additional 237 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $76.38 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock’s 50 day moving average is $70.42 and its two-hundred day moving average is $72.97. The company has a market capitalization of $248.55 billion, a PE ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the previous year, the business earned $1.20 EPS. Wells Fargo & Company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

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

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. Raymond James dropped their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research report on Monday, April 14th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.48.

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.