Brucke Financial Inc. Invests $1.01 Million in Wells Fargo & Company (NYSE:WFC)

Brucke Financial Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,429 shares of the financial services provider's stock, valued at approximately $1,013,000. Wells Fargo & Company accounts for approximately 0.9% of Brucke Financial Inc.'s investment portfolio, making the stock its 26th biggest position.

Several other institutional investors have also added to or reduced their stakes in WFC. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company during the 4th quarter worth $28,000. BNP Paribas acquired a new position in Wells Fargo & Company in the 4th quarter valued at $28,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% during 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 during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on WFC. Piper Sandler dropped their price target on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Bank of America cut their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. TD Cowen initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Finally, Truist Financial cut their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research note 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.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.73.

Wells Fargo & Company Trading Up 0.1%

Shares of WFC stock traded up $0.11 during mid-day trading on Friday, reaching $74.62. 17,037,870 shares of the stock traded hands, compared to its average volume of 17,164,436. The company has a market cap of $242.83 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock's fifty day simple moving average is $70.07 and its two-hundred day simple moving average is $72.89. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

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 earnings per share (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 business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the business earned $1.20 EPS. The firm's quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company announced that its board has authorized a share buyback plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in 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 stock is undervalued.

Wells Fargo & Company 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.