3,044 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,044 shares of the financial services provider's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company during the 4th quarter worth about $28,000. BNP Paribas bought a new stake in Wells Fargo & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America upped their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley upped their price target 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. Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 price target (up from $75.00) on shares of Wells Fargo & Company in a research note on Wednesday, June 4th. Finally, Barclays lowered their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.33.

Wells Fargo & Company Trading Down 1.5%

NYSE:WFC opened at $82.34 on Tuesday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $75.60 and a two-hundred day moving average price of $73.59. The company has a market cap of $267.95 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business's revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is presently 28.73%.

Wells Fargo & Company announced that its board has approved a stock 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 reacquire up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

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.

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