Kestra Private Wealth Services LLC Buys 18,247 Shares of Wells Fargo & Company (NYSE:WFC)

Kestra Private Wealth Services LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 18.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,946 shares of the financial services provider's stock after acquiring an additional 18,247 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Wells Fargo & Company were worth $8,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. BNP Paribas bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. Parvin Asset Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $32,000. Dunhill Financial LLC increased its holdings in Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after buying an additional 193 shares during the period. Finally, Orion Capital Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $35,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $80.64 on Friday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $83.95. 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 business's 50-day moving average price is $77.14 and its two-hundred day moving average price is $74.21. The stock has a market cap of $262.42 billion, a PE ratio of 13.81, a P/E/G ratio of 1.34 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.40%.

Wells Fargo & Company declared that its board has approved a share buyback program on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Raymond James Financial downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Bank of America upped their price target 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. Finally, TD Cowen began 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 on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and an average target price of $80.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.