GF Fund Management CO. LTD. Acquires 12,944 Shares of Wells Fargo & Company (NYSE:WFC)

GF Fund Management CO. LTD. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 213.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,999 shares of the financial services provider's stock after buying an additional 12,944 shares during the period. GF Fund Management CO. LTD.'s holdings in Wells Fargo & Company were worth $1,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Shakespeare Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock valued at $972,000 after purchasing an additional 130 shares during the last quarter. Safeguard Investment Advisory Group LLC grew its stake in shares of Wells Fargo & Company by 2.4% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after purchasing an additional 137 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its stake in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after buying an additional 144 shares during the period. TCTC Holdings LLC raised its holdings in shares of Wells Fargo & Company by 2.1% during the fourth quarter. TCTC Holdings LLC now owns 7,525 shares of the financial services provider's stock valued at $529,000 after acquiring an additional 152 shares in the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in Wells Fargo & Company by 1.1% in the first quarter. Highline Wealth Partners LLC now owns 13,815 shares of the financial services provider's stock valued at $992,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Bank of America raised their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. 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 report on Thursday, March 13th. Raymond James Financial reiterated a "strong-buy" rating on shares of Wells Fargo & Company in a report on Wednesday, June 18th. Piper Sandler restated an "overweight" rating and issued a $85.00 target price (up previously from $75.00) on shares of Wells Fargo & Company in a research note on Wednesday, June 4th. Finally, Truist Financial lowered their price objective on 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. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.33.

Wells Fargo & Company Stock Up 1.2%

Shares of Wells Fargo & Company stock traded up $0.96 on Friday, reaching $83.32. The company's stock had a trading volume of 11,237,287 shares, compared to its average volume of 17,353,350. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $83.95. The firm's fifty day simple moving average is $75.34 and its two-hundred day simple moving average is $73.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $271.12 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.40 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.92%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

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