Vident Advisory LLC Has $8.06 Million Stake in Wells Fargo & Company (NYSE:WFC)

Vident Advisory LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,706 shares of the financial services provider's stock after purchasing an additional 27,235 shares during the period. Vident Advisory LLC's holdings in Wells Fargo & Company were worth $8,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vivaldi Capital Management LP acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $209,000. Westwood Holdings Group Inc. grew its holdings in Wells Fargo & Company by 17.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,813,129 shares of the financial services provider's stock worth $127,354,000 after acquiring an additional 275,435 shares during the period. Twinbeech Capital LP acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $2,693,000. Theleme Partners LLP acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $187,049,000. Finally, Stonebrook Private Inc. grew its holdings in Wells Fargo & Company by 6.5% during the 4th quarter. Stonebrook Private Inc. now owns 4,039 shares of the financial services provider's stock worth $284,000 after acquiring an additional 248 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $76.05 on Tuesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market cap of $247.48 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.18 and a beta of 1.13. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm's 50-day simple moving average is $69.74 and its 200 day simple moving average is $72.67.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter last year, the firm earned $1.20 EPS. The company's quarterly revenue was down 3.4% compared to the same quarter last year. As a group, research 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 approved a stock buyback 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 reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. TD Cowen started coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target for the company. Truist Financial decreased their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 14th. Raymond James decreased their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a report on Monday, April 14th. Finally, Citigroup decreased their price target 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. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

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.

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