FSB Premier Wealth Management Inc. Buys 3,908 Shares of Wells Fargo & Company (NYSE:WFC)

FSB Premier Wealth Management Inc. lifted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,866 shares of the financial services provider's stock after acquiring an additional 3,908 shares during the quarter. FSB Premier Wealth Management Inc.'s holdings in Wells Fargo & Company were worth $2,072,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its stake in shares of Wells Fargo & Company by 932.0% in the fourth 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after acquiring an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC raised its position in Wells Fargo & Company by 7,887.9% during the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after acquiring an additional 3,350,605 shares in the last quarter. Northern Trust Corp raised its position in 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 acquiring an additional 3,307,855 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $198,801,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. 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. Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Wells Fargo & Company from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Bank of America upped their price target 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.86 during mid-day trading on Wednesday, reaching $81.79. The stock had a trading volume of 15,567,115 shares, compared to its average volume of 18,313,220. The firm's 50 day simple moving average is $78.31 and its 200 day simple moving average is $74.83. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a one year low of $50.15 and a one year high of $84.83. The firm has a market cap of $266.16 billion, a PE ratio of 14.01, a P/E/G ratio of 1.29 and a beta of 1.16.

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

Wells Fargo & Company announced 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 purchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be paid a $0.45 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, August 8th. Wells Fargo & Company's dividend payout ratio is currently 27.40%.

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.