Wells Fargo & Company (NYSE:WFC) Shares Bought by CWC Advisors LLC.

CWC Advisors LLC. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 50.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,194 shares of the financial services provider's stock after acquiring an additional 8,398 shares during the period. Wells Fargo & Company makes up about 1.0% of CWC Advisors LLC.'s portfolio, making the stock its 27th biggest position. CWC Advisors LLC.'s holdings in Wells Fargo & Company were worth $1,809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Brighton Jones LLC lifted its stake in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after acquiring an additional 25,436 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in Wells Fargo & Company by 8.4% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 3,854 shares of the financial services provider's stock valued at $271,000 after acquiring an additional 299 shares during the period. Whipplewood Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $56,000. Nwam LLC increased its holdings in shares of Wells Fargo & Company by 58.3% during the 4th quarter. Nwam LLC now owns 8,664 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Convergence Financial LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $212,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial cut their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 14th. Bank of America lifted their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Seven investment 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.98.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $79.42 on Friday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market capitalization of $258.44 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.34 and a beta of 1.16. The company has a fifty day simple moving average of $73.88 and a 200-day simple moving average of $73.06. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

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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