Catalina Capital Group LLC Sells 7,115 Shares of Wells Fargo & Company (NYSE:WFC)

Catalina Capital Group LLC decreased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,554 shares of the financial services provider's stock after selling 7,115 shares during the period. Catalina Capital Group LLC's holdings in Wells Fargo & Company were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Wells Fargo & Company during the fourth quarter valued at $3,365,658,000. Northern Trust Corp lifted its stake 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 purchasing an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 238,131 shares during the period. Capital Research Global Investors boosted its position in shares of Wells Fargo & Company by 932.0% during 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 purchasing an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors grew its stake in Wells Fargo & Company by 0.4% during the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock worth $977,338,000 after purchasing an additional 62,099 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 3.1%

Shares of NYSE:WFC traded up $2.24 during mid-day trading on Thursday, hitting $74.74. 23,493,486 shares of the company traded hands, compared to its average volume of 17,513,897. The stock has a market cap of $243.21 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.22 and a beta of 1.16. 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 $81.50. The stock has a 50-day moving average price of $71.93 and a two-hundred day moving average price of $72.86.

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 for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period last year, the business earned $1.20 EPS. The business's revenue was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.14%. 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 has approved a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. 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 note on Monday, April 14th. Bank of America lifted their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Finally, Truist Financial reduced 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 equities research 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, Wells Fargo & Company presently has an average 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.