Continuum Advisory LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Continuum Advisory LLC grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,255 shares of the financial services provider's stock after buying an additional 3,336 shares during the period. Continuum Advisory LLC's holdings in Wells Fargo & Company were worth $1,382,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $3,365,658,000. Northern Trust Corp grew 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 buying an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Company by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock worth $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 worth $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Finally, Capital World Investors boosted its position in shares of Wells Fargo & Company by 0.4% during the 4th 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. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.8%

NYSE WFC opened at $75.33 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The firm's fifty day moving average price is $72.42 and its 200 day moving average price is $72.86. The company has a market capitalization of $245.14 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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. The company 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 quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen assumed 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 objective for the company. Royal Bank Of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Bank of America increased their price objective 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, June 4th. Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $77.98.

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.

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