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

Generali Investments CEE investicni spolecnost a.s. purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,000 shares of the financial services provider's stock, valued at approximately $2,943,000.

Other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. lifted its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 237 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WFC shares. TD Cowen started 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 objective for the company. Royal Bank Of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Truist Financial reduced their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, 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 report on Wednesday, June 4th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.33.

Wells Fargo & Company Price Performance

WFC stock traded up $0.96 during trading on Friday, hitting $83.32. The stock had a trading volume of 11,237,287 shares, compared to its average volume of 17,377,113. The stock has a market cap of $271.12 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $83.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The company's 50 day moving average price is $75.34 and its two-hundred day moving average price is $73.44.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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 firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the firm posted $1.20 earnings per share. Wells Fargo & Company's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 annualized dividend and a yield of 1.92%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

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