Omnia Family Wealth LLC Invests $286,000 in Wells Fargo & Company (NYSE:WFC)

Omnia Family Wealth LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,989 shares of the financial services provider's stock, valued at approximately $286,000.

Other hedge funds have also modified their holdings of the company. Shakespeare Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after purchasing an additional 130 shares during the last quarter. Safeguard Investment Advisory Group LLC increased its position in shares of Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after purchasing an additional 137 shares during the last quarter. Crown Wealth Group LLC increased its position in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after purchasing an additional 140 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its position in shares of Wells Fargo & Company by 0.6% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock worth $1,580,000 after purchasing an additional 144 shares during the last quarter. Finally, TCTC Holdings LLC increased its position in shares of Wells Fargo & Company by 2.1% during the 4th quarter. TCTC Holdings LLC now owns 7,525 shares of the financial services provider's stock worth $529,000 after purchasing an additional 152 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on WFC shares. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price target (up previously from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Raymond James Financial reiterated a "strong-buy" rating on shares of Wells Fargo & Company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. reduced their target price on 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. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.98.

Wells Fargo & Company Stock Performance

WFC opened at $79.08 on Thursday. The business has a fifty day simple moving average of $73.27 and a 200 day simple moving average of $72.96. The company has a market capitalization of $257.34 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84.

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 for the quarter, beating 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 quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.02%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Wells Fargo & Company declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.

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