Dynamic Advisor Solutions LLC Acquires Shares of 31,375 Wells Fargo & Company (NYSE:WFC)

Dynamic Advisor Solutions LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,375 shares of the financial services provider's stock, valued at approximately $2,252,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company in the fourth quarter valued at $28,000. BNP Paribas purchased a new position in Wells Fargo & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. increased its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WFC shares. 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 target on the stock in a research note on Thursday, March 13th. Bank of America boosted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley boosted their price objective 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. Evercore ISI boosted their price objective 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. Finally, Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.68.

Wells Fargo & Company Trading Up 1.0%

WFC opened at $73.07 on Tuesday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market capitalization of $237.78 billion, a PE ratio of 13.58, a P/E/G ratio of 1.18 and a beta of 1.16. The business's 50 day moving average price is $71.65 and its 200 day moving average price is $72.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm's quarterly revenue was down 3.4% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Wells Fargo & Company declared that its board has approved a share repurchase plan on Tuesday, April 29th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows 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 board believes its stock is 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.

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