Wells Fargo & Company (NYSE:WFC) is Verde Servicos Internacionais S.A.'s 3rd Largest Position

Verde Servicos Internacionais S.A. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 40.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,801 shares of the financial services provider's stock after selling 126,377 shares during the quarter. Wells Fargo & Company accounts for about 7.5% of Verde Servicos Internacionais S.A.'s holdings, making the stock its 3rd largest position. Verde Servicos Internacionais S.A.'s holdings in Wells Fargo & Company were worth $13,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Modera Wealth Management LLC increased its position in Wells Fargo & Company by 14.1% in the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock worth $1,444,000 after buying an additional 2,548 shares during the last quarter. Cornerstone Advisors LLC increased its position in Wells Fargo & Company by 2.1% in the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock worth $14,343,000 after buying an additional 4,200 shares during the last quarter. Metis Global Partners LLC increased its position in Wells Fargo & Company by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider's stock worth $12,105,000 after buying an additional 6,668 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Wells Fargo & Company by 12.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock worth $45,783,000 after buying an additional 70,104 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC increased its position in Wells Fargo & Company by 4.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock worth $9,167,000 after buying an additional 5,215 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial reduced their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Morgan Stanley lifted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Barclays reduced their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.98.

Wells Fargo & Company Trading Up 0.8%

NYSE WFC opened at $75.33 on Monday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $72.42 and a 200-day moving average of $72.86. The firm has a market cap of $245.14 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.26 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 for the quarter, beating 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 company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & Company announced that its Board of Directors has approved a share repurchase program on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is 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.

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