KPP Advisory Services LLC Purchases Shares of 9,866 Wells Fargo & Company (NYSE:WFC)

KPP Advisory Services LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,866 shares of the financial services provider's stock, valued at approximately $708,000.

Several other large investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. BNP Paribas purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. lifted its position 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 in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded down $0.54 during trading on Friday, reaching $79.42. The stock had a trading volume of 21,282,981 shares, compared to its average volume of 17,309,110. The stock has a fifty day simple moving average of $73.58 and a two-hundred day simple moving average of $73.01. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm has a market capitalization of $258.44 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.32 and a beta of 1.16.

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. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

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

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WFC shares. 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. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Royal Bank Of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Evercore ISI upped their target price on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.98.

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.