Wells Fargo & Company (NYSE:WFC) Shares Acquired by Nvwm LLC

Key Points

• Nvwm LLC increased its stake in Wells Fargo by 34.2% in Q1, owning 39,832 shares worth approximately $2.86 million after acquiring additional shares.
• Wells Fargo reported earnings of $1.54 per share for the last quarter, exceeding estimates by $0.13, with a revenue of $20.82 billion, a slight rise from the previous year.
• The company approved a $40 billion stock buyback program, indicating that the board believes the shares are undervalued.

Nvwm LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 34.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,832 shares of the financial services provider's stock after purchasing an additional 10,159 shares during the quarter. Nvwm LLC's holdings in Wells Fargo & Company were worth $2,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Norges Bank bought a new stake in Wells Fargo & Company during the 4th quarter valued at $3,365,658,000. Northern Trust Corp increased its stake in shares of Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after buying an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock valued at $1,430,742,000 after acquiring an additional 238,131 shares in the last quarter. Capital Research Global Investors grew its holdings in Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after acquiring an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors increased its position in Wells Fargo & Company by 0.4% during the 4th quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock valued at $977,338,000 after purchasing an additional 62,099 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. 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. Bank of America raised their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, TD Cowen began coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.39.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded up $0.38 during midday trading on Friday, reaching $84.25. The company's stock had a trading volume of 14,071,803 shares, compared to its average volume of 19,653,194. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average of $77.86 and a 200 day moving average of $74.61. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $84.83. The firm has a market capitalization of $274.15 billion, a PE ratio of 14.43, a P/E/G ratio of 1.31 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The business had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

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 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 1.90%. Wells Fargo & Company's payout ratio is 27.40%.

Wells Fargo & Company declared that its board has authorized a share repurchase plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits 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 board believes its shares are undervalued.

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.