Sather Financial Group Inc Has $678,000 Position in Wells Fargo & Company (NYSE:WFC)

Key Points

• Sather Financial Group Inc significantly reduced its holdings in Wells Fargo & Company by 60.6% during the first quarter, bringing its ownership down to 9,451 shares valued at $678,000.
• Despite some institutional selling, other investors like Mediolanum International Funds Ltd and Nvwm LLC have increased their stakes in Wells Fargo by 17.5% and 34.2% respectively.
• Wells Fargo has initiated a $40 billion stock buyback program and reported an earnings per share of $1.54 for the last quarter, outperforming expectations.

Sather Financial Group Inc lessened its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 60.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,451 shares of the financial services provider's stock after selling 14,532 shares during the quarter. Sather Financial Group Inc's holdings in Wells Fargo & Company were worth $678,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WFC. Shakespeare Wealth Management LLC grew its position in Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after acquiring an additional 130 shares during the last quarter. Safeguard Investment Advisory Group LLC lifted its holdings in Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after buying an additional 137 shares in the last quarter. Summit Wealth & Retirement Planning Inc. increased its stake in shares of Wells Fargo & Company by 4.3% in the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock valued at $241,000 after buying an additional 139 shares during the period. Nwam LLC raised its position in shares of Wells Fargo & Company by 1.6% during the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after acquiring an additional 142 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WFC shares. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group decreased their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Truist Financial increased their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to 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 WFC traded down $1.29 during midday trading on Monday, reaching $83.03. The stock had a trading volume of 10,625,988 shares, compared to its average volume of 17,680,338. The firm has a market cap of $270.19 billion, a PE ratio of 14.22, a P/E/G ratio of 1.31 and a beta of 1.16. The firm has a 50 day simple moving average of $77.86 and a 200-day simple moving average of $74.63. Wells Fargo & Company has a one year low of $50.15 and a one year high of $84.83. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

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

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors 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 1.93%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is presently 27.40%.

Wells Fargo & Company declared that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors 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.