DCM Advisors LLC Buys 5,677 Shares of Wells Fargo & Company (NYSE:WFC)

DCM Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 116,961 shares of the financial services provider's stock after purchasing an additional 5,677 shares during the period. Wells Fargo & Company accounts for about 3.8% of DCM Advisors LLC's investment portfolio, making the stock its 12th biggest holding. DCM Advisors LLC's holdings in Wells Fargo & Company were worth $8,198,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Spinnaker Trust lifted its position in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 130 shares in the last quarter. Shakespeare Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock valued at $972,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 134 shares in the last quarter. Safeguard Investment Advisory Group LLC lifted its position in shares of Wells Fargo & Company by 2.4% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 137 shares in the last quarter. Finally, Crown Wealth Group LLC lifted its position in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Thursday, March 13th. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Barclays decreased their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

Wells Fargo & Company Trading Down 3.1%

Shares of WFC stock opened at $73.20 on Thursday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock's 50 day simple moving average is $69.93 and its two-hundred day simple moving average is $72.69. The company has a market cap of $238.19 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13.

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 return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company's quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. Wells Fargo & Company's dividend payout ratio is 28.73%.

Wells Fargo & Company declared that its board has approved a share repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board 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.

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