Long Run Wealth Advisors LLC Invests $3.63 Million in Wells Fargo & Company (NYSE:WFC)

Long Run Wealth Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,550 shares of the financial services provider's stock, valued at approximately $3,629,000.

A number of other large investors have also recently made changes to their positions in the stock. Northside Capital Management LLC boosted its position in Wells Fargo & Company by 1.5% in the 1st quarter. Northside Capital Management LLC now owns 27,530 shares of the financial services provider's stock valued at $1,976,000 after buying an additional 403 shares during the period. Apella Capital LLC boosted its holdings in shares of Wells Fargo & Company by 12.6% in the first quarter. Apella Capital LLC now owns 31,011 shares of the financial services provider's stock valued at $2,057,000 after purchasing an additional 3,474 shares during the period. Planned Solutions Inc. grew its stake in Wells Fargo & Company by 9.6% in the first quarter. Planned Solutions Inc. now owns 3,440 shares of the financial services provider's stock worth $247,000 after purchasing an additional 300 shares in the last quarter. Sentry Investment Management LLC increased its holdings in Wells Fargo & Company by 29.6% during the 1st quarter. Sentry Investment Management LLC now owns 8,321 shares of the financial services provider's stock worth $597,000 after purchasing an additional 1,898 shares during the period. Finally, RFG Advisory LLC raised its position in Wells Fargo & Company by 13.4% during the 1st quarter. RFG Advisory LLC now owns 41,879 shares of the financial services provider's stock valued at $3,006,000 after purchasing an additional 4,944 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC traded down $0.50 during trading on Thursday, reaching $74.88. 20,123,252 shares of the stock were exchanged, compared to its average volume of 17,495,597. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $243.67 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The business's 50 day moving average price is $70.26 and its two-hundred day moving average price is $72.94.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the prior year, the company earned $1.20 EPS. The firm's revenue was down 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WFC shares. Truist Financial cut their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays cut their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Bank of America upped their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup dropped 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. Finally, Raymond James dropped their target price on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.48.

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.