Florida Financial Advisors LLC Has $1 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Florida Financial Advisors LLC increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 142.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,039 shares of the financial services provider's stock after purchasing an additional 8,242 shares during the period. Florida Financial Advisors LLC's holdings in Wells Fargo & Company were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Shakespeare Wealth Management LLC boosted its stake in 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 during the period. Safeguard Investment Advisory Group LLC lifted its stake in shares of Wells Fargo & Company by 2.4% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after acquiring an additional 137 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in Wells Fargo & Company by 0.6% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after purchasing an additional 144 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in Wells Fargo & Company by 2.4% during the first quarter. Zullo Investment Group Inc. now owns 6,327 shares of the financial services provider's stock valued at $454,000 after buying an additional 147 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its position in shares of Wells Fargo & Company by 2.3% during the 1st quarter. Fortem Financial Group LLC now owns 6,759 shares of the financial services provider's stock valued at $485,000 after purchasing an additional 150 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.1%

WFC traded up $0.92 during trading on Monday, reaching $83.47. The company had a trading volume of 20,165,629 shares, compared to its average volume of 17,292,131. The company has a market cap of $271.62 billion, a P/E ratio of 14.99, a PEG ratio of 1.39 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month 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 business's fifty day moving average price is $76.41 and its 200 day moving average price is $73.88.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

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

Analyst Ratings Changes

A number of equities analysts recently commented on WFC shares. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. TD Cowen began coverage on shares of Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Finally, Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.13.

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.