Northstar Financial Companies Inc. Purchases New Shares in Wells Fargo & Company (NYSE:WFC)

Northstar Financial Companies Inc. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,078 shares of the financial services provider's stock, valued at approximately $638,000.

Several other large investors have also recently modified their holdings of WFC. Norges Bank bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $3,365,658,000. Capital Research Global Investors increased its stake in Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. Northern Trust Corp increased its stake in Wells Fargo & Company by 10.7% during the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Wells Fargo & Company during the 4th quarter valued at approximately $198,801,000. Finally, Theleme Partners LLP acquired a new position in Wells Fargo & Company during the 4th quarter valued at approximately $187,049,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.1%

Shares of WFC stock traded up $0.11 during trading on Friday, reaching $74.62. The company's stock had a trading volume of 17,037,870 shares, compared to its average volume of 17,441,691. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $242.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.18 and a beta of 1.13. The stock's 50-day moving average price is $70.07 and its 200 day moving average price is $72.91. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm's revenue was down 3.4% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on WFC shares. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. TD Cowen began 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. Truist Financial decreased their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Finally, Raymond James cut their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.73.

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.