Wells Fargo & Company (NYSE:WFC) Shares Acquired by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417,280 shares of the financial services provider's stock after acquiring an additional 7,380 shares during the quarter. Wells Fargo & Company makes up about 1.2% of Braun Stacey Associates Inc.'s portfolio, making the stock its 20th biggest holding. Braun Stacey Associates Inc.'s holdings in Wells Fargo & Company were worth $29,957,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $3,365,658,000. Northern Trust Corp raised its position in Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 1.2% in the fourth 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 purchasing an additional 238,131 shares during the period. Capital Research Global Investors raised its position in Wells Fargo & Company by 932.0% in the fourth 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 purchasing an additional 14,210,193 shares during the period. Finally, Capital World Investors raised its position in Wells Fargo & Company by 0.4% in the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock valued at $977,338,000 after purchasing an additional 62,099 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on WFC. Raymond James Financial reiterated a "strong-buy" rating on shares of Wells Fargo & Company in a report on Wednesday, June 18th. Evercore ISI boosted their target price on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Truist Financial dropped their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley boosted their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $78.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.33.

Wells Fargo & Company Price Performance

Shares of WFC traded up $0.96 on Friday, reaching $83.32. The stock had a trading volume of 11,237,287 shares, compared to its average volume of 17,377,113. The firm has a market capitalization of $271.12 billion, a PE ratio of 15.09, a PEG ratio of 1.40 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $75.34 and a 200 day moving average of $73.44. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The company's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. 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 announced that its Board of Directors has approved a share repurchase plan 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 reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are 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.