Wells Fargo & Company (NYSE:WFC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,264 shares of the financial services provider's stock after acquiring an additional 4,786 shares during the quarter. GAMMA Investing LLC's holdings in Wells Fargo & Company were worth $3,393,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. BNP Paribas purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. grew its stake in shares of 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, Parvin Asset Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $79.42 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization of $258.44 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.34 and a beta of 1.16. 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 company's fifty day moving average price is $73.88 and its 200 day moving average price is $73.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the company posted $1.20 earnings per share. The business's quarterly revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Wells Fargo & Company announced that its board has authorized a stock 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 typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WFC shares. Truist Financial decreased their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 14th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective 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. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Bank of America raised 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. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.98.

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.

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