Wells Fargo & Company (NYSE:WFC) Stock Position Raised by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,873 shares of the financial services provider’s stock after acquiring an additional 372 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Wells Fargo & Company were worth $1,642,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Modera Wealth Management LLC boosted its position in Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 2,548 shares during the period. Cornerstone Advisors LLC lifted its stake in Wells Fargo & Company by 2.1% in the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider’s stock valued at $14,343,000 after buying an additional 4,200 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Wells Fargo & Company by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider’s stock valued at $12,105,000 after acquiring an additional 6,668 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Wells Fargo & Company by 12.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider’s stock worth $45,783,000 after acquiring an additional 70,104 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC increased its holdings in shares of Wells Fargo & Company by 4.2% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider’s stock worth $9,167,000 after acquiring an additional 5,215 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Morgan Stanley lifted their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Raymond James Financial reissued a “strong-buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, June 18th. Finally, Citigroup cut their price objective 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. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.98.

Wells Fargo & Company Trading Up 1.2%

Shares of NYSE WFC opened at $80.02 on Friday. The company has a quick ratio of 0.84, a current 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 $81.50. The company has a market cap of $260.39 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.32 and a beta of 1.16. The business has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $73.01.

Wells Fargo & Company (NYSE:WFC) last posted 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 company 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 business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is 28.73%.

Wells Fargo & Company announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Wells Fargo & Company

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.