3,449 Shares in Wells Fargo & Company (NYSE:WFC) Bought by McMill Wealth Management

McMill Wealth Management acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,449 shares of the financial services provider's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Empowered Funds LLC raised its holdings in shares of Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares during the period. Valmark Advisers Inc. grew its position in Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares in the last quarter. NatWest Group plc grew its position in Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock worth $12,115,000 after purchasing an additional 63,102 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $1,656,000. Finally, Modera Wealth Management LLC increased its stake in shares of 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 worth $1,444,000 after purchasing an additional 2,548 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $73.32 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a 50-day moving average of $69.97 and a 200-day moving average of $72.76. The firm has a market cap of $238.60 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company's revenue was down 3.4% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.18%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WFC shares. JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. TD Cowen assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Truist Financial decreased their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.73.

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.

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