Secured Retirement Advisors LLC Buys Shares of 5,685 Wells Fargo & Company (NYSE:WFC)

Secured Retirement Advisors LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,685 shares of the financial services provider's stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company in the fourth quarter worth $28,000. BNP Paribas bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Parvin Asset Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Dunhill Financial LLC lifted its position in Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 193 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $35,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Truist Financial raised their price target on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America increased their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group restated a "buy" rating and issued a $86.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. TD Cowen began coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target for the company. Finally, Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.13.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.19 during trading hours on Friday, hitting $82.55. 12,577,498 shares of the company's stock traded hands, compared to its average volume of 17,267,940. The company's fifty day simple moving average is $76.41 and its two-hundred day simple moving average is $73.87. The company has a market cap of $268.63 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $83.95.

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

Wells Fargo & Company announced that its board has approved a share repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

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.