Headlands Technologies LLC Boosts Stake in Wells Fargo & Company (NYSE:WFC)

Key Points

• Headlands Technologies LLC increased its stake in Wells Fargo by 13.4%, owning a total of 67,118 shares valued at $4.8 million as of the latest SEC filing.
• Wells Fargo recently declared a quarterly dividend of $0.45, raising it from $0.40, and indicated a positive payout ratio of 27.40%.
• Wells Fargo's stock has seen fluctuations, with a current price of $77.60 and a market cap of $252.53 billion, while analysts maintain a consensus rating of "Moderate Buy."

Headlands Technologies LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,118 shares of the financial services provider's stock after acquiring an additional 7,938 shares during the period. Headlands Technologies LLC's holdings in Wells Fargo & Company were worth $4,818,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Accretive Wealth Partners LLC acquired a new position in Wells Fargo & Company during the first quarter worth about $399,000. Secured Retirement Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $408,000. RKL Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 166.4% in the 1st 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 period. Allianz SE increased its stake in Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider's stock valued at $15,244,000 after purchasing an additional 39,150 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Wells Fargo & Company by 12.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock worth $45,783,000 after purchasing an additional 70,104 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.5%

Shares of WFC opened at $77.60 on Thursday. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83. The company's fifty day moving average is $78.81 and its two-hundred day moving average is $74.97. The firm has a market cap of $252.53 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company announced that its board has initiated a stock repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to purchase 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 shares are undervalued.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 8th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company's payout ratio is 27.40%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WFC. Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Truist Financial upped their price target on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $80.39.

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.

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