4,387 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by True Vision MN LLC

True Vision MN LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,387 shares of the financial services provider's stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quotient Wealth Partners LLC raised its position in Wells Fargo & Company by 5.9% in the first quarter. Quotient Wealth Partners LLC now owns 12,777 shares of the financial services provider's stock valued at $917,000 after purchasing an additional 709 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Wells Fargo & Company by 9.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 988,082 shares of the financial services provider's stock valued at $70,934,000 after buying an additional 82,324 shares during the period. Moloney Securities Asset Management LLC raised its holdings in shares of Wells Fargo & Company by 19.1% during the 1st quarter. Moloney Securities Asset Management LLC now owns 5,266 shares of the financial services provider's stock valued at $378,000 after buying an additional 843 shares during the period. Rehmann Capital Advisory Group lifted its position in Wells Fargo & Company by 9.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 35,299 shares of the financial services provider's stock worth $2,534,000 after acquiring an additional 2,978 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in Wells Fargo & Company by 2.5% in the 1st quarter. Greenleaf Trust now owns 75,982 shares of the financial services provider's stock worth $5,455,000 after acquiring an additional 1,829 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WFC. The Goldman Sachs Group reissued a "buy" rating and set a $86.00 price objective on shares of Wells Fargo & Company in a report on Tuesday. TD Cowen initiated coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Barclays lowered their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.98.

Wells Fargo & Company Price Performance

WFC stock opened at $81.78 on Thursday. The stock has a market cap of $266.13 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The stock has a 50-day moving average price of $76.03 and a two-hundred day moving average price of $73.70. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $83.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results 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. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. Wells Fargo & Company's revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

Wells Fargo & Company announced that its board has authorized a stock repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in 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 typically a sign that the company's board of directors 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.

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