Uncommon Cents Investing LLC Has $8.25 Million Stake in Wells Fargo & Company (NYSE:WFC)

Uncommon Cents Investing LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,919 shares of the financial services provider's stock after selling 6,120 shares during the quarter. Wells Fargo & Company makes up 2.4% of Uncommon Cents Investing LLC's portfolio, making the stock its 4th biggest position. Uncommon Cents Investing LLC's holdings in Wells Fargo & Company were worth $8,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the fourth quarter worth $28,000. BNP Paribas bought a new stake in Wells Fargo & Company during the fourth quarter valued at $28,000. Rakuten Securities Inc. increased its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $75.33 on Monday. The firm has a market capitalization of $245.14 billion, a PE ratio of 13.52, a P/E/G ratio of 1.26 and a beta of 1.16. 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 50-day moving average price of $72.42 and a 200 day moving average price of $72.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. The business 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 business's revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

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

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

Several research analysts have recently commented on WFC shares. Barclays decreased their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup lowered their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Evercore ISI increased their price target on Wells Fargo & Company from $72.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. TD Cowen started coverage on Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Finally, Royal Bank Of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.98.

Wells Fargo & Company 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.

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