Trek Financial LLC Acquires Shares of 6,545 Wells Fargo & Company (NYSE:WFC)

Trek Financial LLC bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 6,545 shares of the financial services provider's stock, valued at approximately $470,000.

A number of other institutional investors also recently bought and sold shares of the stock. Personal CFO Solutions LLC grew its position in shares of Wells Fargo & Company by 2.4% during the first quarter. Personal CFO Solutions LLC now owns 11,951 shares of the financial services provider's stock valued at $858,000 after purchasing an additional 277 shares in the last quarter. 49 Wealth Management LLC grew its position in shares of Wells Fargo & Company by 28.5% during the first quarter. 49 Wealth Management LLC now owns 4,869 shares of the financial services provider's stock valued at $350,000 after purchasing an additional 1,079 shares in the last quarter. Stratos Investment Management LLC grew its position in Wells Fargo & Company by 10.0% in the first quarter. Stratos Investment Management LLC now owns 10,628 shares of the financial services provider's stock worth $763,000 after acquiring an additional 962 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Wells Fargo & Company by 8.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 18,280 shares of the financial services provider's stock worth $1,312,000 after acquiring an additional 1,428 shares in the last quarter. Finally, Alpha Cubed Investments LLC grew its position in Wells Fargo & Company by 17.9% in the first quarter. Alpha Cubed Investments LLC now owns 42,647 shares of the financial services provider's stock worth $3,062,000 after acquiring an additional 6,467 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent research reports. Bank of America lifted their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday. Piper Sandler reissued an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday. Finally, Barclays dropped their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Eight 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 stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus target price of $78.98.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.11 during midday trading on Friday, hitting $82.47. The company had a trading volume of 6,208,170 shares, compared to its average volume of 17,384,556. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $268.36 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The business has a 50-day simple moving average of $76.24 and a two-hundred day simple moving average of $73.78. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95.

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, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.94%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company announced that its board has initiated a stock repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.