Helium Advisors LLC Takes $367,000 Position in Wells Fargo & Company (NYSE:WFC)

Helium Advisors LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,230 shares of the financial services provider's stock, valued at approximately $367,000.

A number of other institutional investors also recently modified their holdings of WFC. Vise Technologies Inc. boosted its stake in shares of Wells Fargo & Company by 16.9% during the 4th quarter. Vise Technologies Inc. now owns 63,590 shares of the financial services provider's stock valued at $4,467,000 after purchasing an additional 9,199 shares in the last quarter. Headinvest LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $204,000. City National Bank of Florida MSD purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $838,000. Cornerstone Advisory LLC raised its position in shares of Wells Fargo & Company by 3.3% in the 4th quarter. Cornerstone Advisory LLC now owns 7,568 shares of the financial services provider's stock worth $532,000 after acquiring an additional 241 shares in the last quarter. Finally, DCM Advisors LLC lifted its stake in shares of Wells Fargo & Company by 5.1% in the 4th quarter. DCM Advisors LLC now owns 116,961 shares of the financial services provider's stock valued at $8,198,000 after purchasing an additional 5,677 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.3%

Shares of NYSE WFC traded down $0.20 during midday trading on Wednesday, hitting $73.80. The stock had a trading volume of 3,597,250 shares, compared to its average volume of 17,410,649. The business's 50 day moving average is $70.04 and its 200-day moving average is $72.87. The company has a market cap of $240.14 billion, a P/E ratio of 13.71, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its board has approved a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WFC. JPMorgan Chase & Co. dropped their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Piper Sandler reduced their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Bank of America decreased their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, TD Cowen initiated 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 target for the company. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $75.73.

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.