Wells Fargo & Company (NYSE:WFC) Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,551 shares of the financial services provider's stock after purchasing an additional 4,201 shares during the period. McGlone Suttner Wealth Management Inc.'s holdings in Wells Fargo & Company were worth $901,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. RKL Wealth Management LLC grew its stake in 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 buying an additional 5,113 shares in the last quarter. Cornerstone Advisors LLC raised its holdings in Wells Fargo & Company by 2.1% in the 4th quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock worth $14,343,000 after purchasing an additional 4,200 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Wells Fargo & Company by 12.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock worth $45,783,000 after acquiring an additional 70,104 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its stake in shares of Wells Fargo & Company by 4.2% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock worth $9,167,000 after acquiring an additional 5,215 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wells Fargo & Company by 12.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,150,595 shares of the financial services provider's stock worth $80,818,000 after acquiring an additional 122,899 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $85.00 target price (up from $75.00) on shares of Wells Fargo & Company in a research note on Wednesday, June 4th. Evercore ISI lifted their price objective on Wells Fargo & Company from $72.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Barclays decreased their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Finally, Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.33.

Wells Fargo & Company Stock Down 1.5%

Shares of WFC traded down $1.26 during trading hours on Monday, hitting $82.34. The company had a trading volume of 18,149,860 shares, compared to its average volume of 17,380,217. The company's fifty day moving average price is $75.34 and its two-hundred day moving average price is $73.50. 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 one year low of $50.15 and a one year high of $83.95. The company has a market capitalization of $267.95 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16.

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 (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share 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. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company declared that its board has authorized a share buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is 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.