Financiere des Professionnels Fonds d investissement inc. Buys 13,011 Shares of Wells Fargo & Company (NYSE:WFC)

Financiere des Professionnels Fonds d investissement inc. grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 55.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,586 shares of the financial services provider's stock after purchasing an additional 13,011 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Wells Fargo & Company were worth $2,627,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WFC. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $3,365,658,000. Northern Trust Corp increased its holdings in Wells Fargo & Company by 10.7% in the fourth 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock worth $1,430,742,000 after acquiring an additional 238,131 shares in the last quarter. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 932.0% during the fourth 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 raised its position in shares of 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 owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $86.00 price target on shares of Wells Fargo & Company in a research report on Tuesday. TD Cowen initiated coverage on 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. Truist Financial lifted their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.98.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.19 on Wednesday, reaching $81.78. The stock had a trading volume of 16,082,431 shares, compared to its average volume of 17,328,941. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $83.94. 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 company has a market cap of $266.13 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The firm has a fifty day moving average of $75.81 and a two-hundred day moving average of $73.64.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released 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 16.19% and a return on equity of 12.15%. 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 company posted $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

Wells Fargo & Company declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are 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.