Generali Investments CEE investicni spolecnost a.s. Invests $2.94 Million in Wells Fargo & Company (NYSE:WFC)

Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,000 shares of the financial services provider's stock, valued at approximately $2,943,000.

A number of other large investors have also modified their holdings of the business. RKL Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after acquiring an additional 5,113 shares during the last quarter. Cornerstone Advisors LLC grew its holdings in shares of Wells Fargo & Company by 2.1% during the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock worth $14,343,000 after buying an additional 4,200 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Wells Fargo & Company by 12.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock valued at $45,783,000 after buying an additional 70,104 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its stake in shares of Wells Fargo & Company by 4.2% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock valued at $9,167,000 after buying an additional 5,215 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wells Fargo & Company by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,150,595 shares of the financial services provider's stock worth $80,818,000 after acquiring an additional 122,899 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Piper Sandler reissued an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday. Barclays lowered their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday. Eight 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.33.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.67 during mid-day trading on Tuesday, reaching $81.67. The company had a trading volume of 18,275,582 shares, compared to its average volume of 17,403,522. 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 capitalization of $265.77 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.38 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95. The company's 50-day moving average is $75.81 and its 200-day moving average is $73.64.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company's revenue was down 3.4% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board 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.