TFR Capital LLC. Buys 3,767 Shares of Wells Fargo & Company (NYSE:WFC)

TFR Capital LLC. increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 123.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,809 shares of the financial services provider's stock after purchasing an additional 3,767 shares during the period. TFR Capital LLC.'s holdings in Wells Fargo & Company were worth $489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Shakespeare Wealth Management LLC increased its holdings in Wells Fargo & Company by 0.9% in 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 in the last quarter. Safeguard Investment Advisory Group LLC increased its holdings in Wells Fargo & Company by 2.4% in 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 in the last quarter. Jaffetilchin Investment Partners LLC increased its stake in shares of Wells Fargo & Company by 0.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after buying an additional 144 shares during the period. Fortem Financial Group LLC increased its stake in shares of Wells Fargo & Company by 2.3% in the first quarter. Fortem Financial Group LLC now owns 6,759 shares of the financial services provider's stock valued at $485,000 after buying an additional 150 shares during the period. Finally, TCTC Holdings LLC boosted 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 valued at $529,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.92 during trading hours on Monday, reaching $83.47. The stock had a trading volume of 20,165,629 shares, compared to its average volume of 17,279,641. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day simple moving average of $76.41 and a 200 day simple moving average of $73.88. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $83.95. The stock has a market cap of $271.62 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the business posted $1.20 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its board has approved a share buyback program 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 programs are usually a sign that the company's board of directors 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. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's payout ratio is currently 28.73%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group restated a "buy" rating and set a $86.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. JPMorgan Chase & Co. lowered their price objective 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. 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 research note on Wednesday, June 4th. Finally, Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average price target of $80.13.

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.