Wells Fargo & Company (NYSE:WFC) Shares Bought by Calamos Wealth Management LLC

Calamos Wealth Management LLC grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,112 shares of the financial services provider's stock after acquiring an additional 3,941 shares during the period. Calamos Wealth Management LLC's holdings in Wells Fargo & Company were worth $14,222,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Shakespeare Wealth Management LLC grew its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after purchasing an additional 130 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its stake in Wells Fargo & Company by 2.4% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after purchasing an additional 137 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its stake in Wells Fargo & Company by 0.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock worth $1,580,000 after purchasing an additional 144 shares in the last quarter. TCTC Holdings LLC grew its position in shares of Wells Fargo & Company by 2.1% during the 4th quarter. TCTC Holdings LLC now owns 7,525 shares of the financial services provider's stock worth $529,000 after buying an additional 152 shares in the last quarter. Finally, SPC Financial Inc. grew its position in shares of Wells Fargo & Company by 2.6% during the 4th quarter. SPC Financial Inc. now owns 6,099 shares of the financial services provider's stock worth $428,000 after buying an additional 154 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.2%

Shares of NYSE:WFC traded up $0.96 during midday trading on Friday, reaching $83.32. 11,237,287 shares of the company's stock were exchanged, compared to its average volume of 17,377,113. The firm's 50 day simple moving average is $75.34 and its two-hundred day simple moving average is $73.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $271.12 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.40 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $83.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly 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 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 analysts' expectations of $20.82 billion. During the same period last year, the business earned $1.20 earnings per share. The business'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 fiscal year.

Wells Fargo & Company announced that its Board of Directors has authorized a share buyback 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 purchase 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.92%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WFC shares. Citigroup increased their price target on Wells Fargo & Company from $78.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $85.00 target price (up from $75.00) on shares of Wells Fargo & Company in a report on Wednesday, June 4th. JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays dropped their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.33.

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.