True Vision MN LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

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

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $3,365,658,000. Northern Trust Corp grew its position in shares of Wells Fargo & Company by 10.7% in the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after buying an additional 3,307,855 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Company by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock valued at $1,430,742,000 after buying an additional 238,131 shares during the last quarter. Capital Research Global Investors grew its position in shares of Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after buying an additional 14,210,193 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Wells Fargo & Company by 0.4% in the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock valued at $977,338,000 after buying an additional 62,099 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday. Bank of America upped their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. TD Cowen assumed coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $86.00 price target on shares of Wells Fargo & Company in a research note on Tuesday. Finally, Barclays dropped their price target on 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. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.98.

Wells Fargo & Company Trading Up 0.7%

Shares of NYSE:WFC traded up $0.54 during trading on Thursday, reaching $82.33. The company's stock had a trading volume of 14,340,562 shares, compared to its average volume of 17,428,139. 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 has a 12 month low of $50.15 and a 12 month high of $83.95. The firm's 50 day simple moving average is $76.03 and its two-hundred day simple moving average is $73.70. The stock has a market capitalization of $267.92 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced 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. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & Company declared that its Board of Directors has approved a share buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Wells Fargo & 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.