Wells Fargo & Company (NYSE:WFC) Position Raised by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 35.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,699 shares of the financial services provider's stock after purchasing an additional 3,348 shares during the period. Royal Capital Wealth Management LLC's holdings in Wells Fargo & Company were worth $892,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the fourth quarter worth about $28,000. BNP Paribas bought a new stake in Wells Fargo & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $75.42 on Wednesday. The business's 50-day simple moving average is $69.88 and its 200 day simple moving average is $72.69. The stock has a market cap of $245.43 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company declared that its board has authorized a stock repurchase plan 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 buy up to 17.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Wall Street Analyst Weigh In

Several brokerages have commented on WFC. TD Cowen initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Citigroup reduced 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. JPMorgan Chase & Co. cut their target price 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. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.73.

About Wells Fargo & Company

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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