Wells Fargo & Company (NYSE:WFC) Position Trimmed by RWWM Inc.

RWWM Inc. reduced its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,835,793 shares of the financial services provider's stock after selling 61,934 shares during the period. Wells Fargo & Company makes up 10.6% of RWWM Inc.'s portfolio, making the stock its 3rd largest holding. RWWM Inc. owned approximately 0.06% of Wells Fargo & Company worth $131,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Prentice Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 1.7% during the 1st quarter. Prentice Wealth Management LLC now owns 9,587 shares of the financial services provider's stock worth $688,000 after purchasing an additional 161 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth about $2,252,000. Scratch Capital LLC boosted its stake in shares of Wells Fargo & Company by 255.9% during the 1st quarter. Scratch Capital LLC now owns 15,299 shares of the financial services provider's stock worth $1,098,000 after purchasing an additional 11,000 shares during the period. Wilsey Asset Management Inc. boosted its stake in shares of Wells Fargo & Company by 1.5% during the 1st quarter. Wilsey Asset Management Inc. now owns 608,820 shares of the financial services provider's stock worth $43,707,000 after purchasing an additional 9,075 shares during the period. Finally, CRA Financial Services LLC boosted its stake in shares of Wells Fargo & Company by 33.0% during the 1st quarter. CRA Financial Services LLC now owns 3,879 shares of the financial services provider's stock worth $278,000 after purchasing an additional 962 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 2.3%

Shares of NYSE:WFC traded down $1.70 during trading hours on Friday, hitting $72.31. The company's stock had a trading volume of 21,164,035 shares, compared to its average volume of 17,503,719. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $235.31 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.18 and a beta of 1.16. The firm's fifty day moving average price is $71.42 and its 200 day moving average price is $72.90.

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 analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company's quarterly revenue was down 3.4% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WFC shares. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays dropped their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Raymond James decreased their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.68.

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.