McGlone Suttner Wealth Management Inc. Acquires 4,201 Shares of Wells Fargo & Company (NYSE:WFC)

McGlone Suttner Wealth Management Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 50.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,551 shares of the financial services provider's stock after acquiring an additional 4,201 shares during the period. McGlone Suttner Wealth Management Inc.'s holdings in Wells Fargo & Company were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Shakespeare Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 0.9% in 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 period. Safeguard Investment Advisory Group LLC increased its holdings in shares of Wells Fargo & Company by 2.4% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after purchasing an additional 137 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in Wells Fargo & Company by 0.6% in the 4th 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 increased its stake in Wells Fargo & Company by 2.1% in the 4th quarter. TCTC Holdings LLC now owns 7,525 shares of the financial services provider's stock valued at $529,000 after buying an additional 152 shares during the period. Finally, Highline Wealth Partners LLC increased its stake in Wells Fargo & Company by 1.1% in the 1st quarter. Highline Wealth Partners LLC now owns 13,815 shares of the financial services provider's stock valued at $992,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

WFC stock traded up $0.19 during midday trading on Wednesday, reaching $81.78. 16,049,558 shares of the stock were exchanged, compared to its average volume of 17,297,471. The stock has a market capitalization of $266.13 billion, a PE ratio of 14.68, a P/E/G ratio of 1.38 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $83.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The company has a fifty day moving average price of $75.81 and a 200 day moving average price of $73.64.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results 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. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its Board of Directors has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Raymond James Financial lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday. Royal Bank Of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Truist Financial increased their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $86.00 price objective on shares of Wells Fargo & Company in a report on Tuesday. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $78.98.

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.