Mcdonald Capital Investors Inc. CA Has $56.64 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Mcdonald Capital Investors Inc. CA decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 789,017 shares of the financial services provider's stock after selling 33,721 shares during the quarter. Wells Fargo & Company makes up 3.6% of Mcdonald Capital Investors Inc. CA's holdings, making the stock its 12th largest holding. Mcdonald Capital Investors Inc. CA's holdings in Wells Fargo & Company were worth $56,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. Narus Financial Partners LLC raised its holdings in Wells Fargo & Company by 4.5% in the first quarter. Narus Financial Partners LLC now owns 4,986 shares of the financial services provider's stock worth $358,000 after purchasing an additional 213 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $67,000. Stonebrook Private Inc. raised its stake in shares of Wells Fargo & Company by 11.4% during the 1st quarter. Stonebrook Private Inc. now owns 4,501 shares of the financial services provider's stock worth $323,000 after acquiring an additional 462 shares in the last quarter. tru Independence LLC lifted its position in Wells Fargo & Company by 7.6% during the first quarter. tru Independence LLC now owns 4,259 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 301 shares during the last quarter. Finally, True Vision MN LLC acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $315,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. TD Cowen initiated coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective on the stock. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday. The Goldman Sachs Group restated a "buy" rating and set a $86.00 price target on shares of Wells Fargo & Company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.13.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.19 during mid-day trading on Friday, reaching $82.55. The company's stock had a trading volume of 12,577,498 shares, compared to its average volume of 17,411,040. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95. The business has a 50 day moving average price of $76.41 and a 200-day moving average price of $73.85. The firm has a market cap of $268.63 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.39 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for 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%. The business's revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's payout ratio is currently 28.73%.

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 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 typically an indication that the company's board of directors believes its shares are undervalued.

Wells Fargo & 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.