Signaturefd LLC Acquires 8,497 Shares of Wells Fargo & Company (NYSE:WFC)

Signaturefd LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,154 shares of the financial services provider's stock after buying an additional 8,497 shares during the period. Signaturefd LLC's holdings in Wells Fargo & Company were worth $4,462,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Capital Research Global Investors increased its holdings in Wells Fargo & Company by 932.0% in the fourth 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 during the period. GAMMA Investing LLC increased its holdings in Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after purchasing an additional 3,350,605 shares during the period. Northern Trust Corp increased its holdings in Wells Fargo & Company by 10.7% in the fourth 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 during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $198,801,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Truist Financial increased their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.13.

Wells Fargo & Company Stock Down 5.3%

Shares of WFC stock traded down $4.44 on Tuesday, reaching $78.99. 23,411,322 shares of the company were exchanged, compared to its average volume of 17,308,105. The company has a market cap of $257.06 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.39 and a beta of 1.16. The company has a 50-day moving average of $76.61 and a 200-day moving average of $73.97. 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 has a one year low of $50.15 and a one year high of $83.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.19. The company had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

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

Wells Fargo & Company Announces Dividend

The firm 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 of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.03%. Wells Fargo & Company's payout ratio 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.