Wells Fargo & Company (NYSE:WFC) Shares Bought by Fermata Advisors LLC

Fermata Advisors LLC grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 308.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,751 shares of the financial services provider's stock after buying an additional 9,629 shares during the quarter. Fermata Advisors LLC's holdings in Wells Fargo & Company were worth $915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $28,000. BNP Paribas acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. increased its holdings in shares of 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 purchasing an additional 237 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WFC shares. TD Cowen began 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. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. 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. Finally, JPMorgan Chase & Co. lowered their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.48.

Wells Fargo & Company Stock Up 2.0%

Shares of NYSE:WFC traded up $1.48 on Friday, hitting $76.38. 10,983,712 shares of the company's stock were exchanged, compared to its average volume of 17,494,936. 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 has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market capitalization of $248.55 billion, a PE ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.16. The firm's 50-day moving average is $70.32 and its 200 day moving average is $72.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate 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 company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm's revenue was down 3.4% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company declared that its board has initiated a stock repurchase 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 reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

About Wells Fargo & Company

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.