Junto Capital Management LP Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Junto Capital Management LP purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 943,149 shares of the financial services provider's stock, valued at approximately $66,247,000. Wells Fargo & Company accounts for about 1.3% of Junto Capital Management LP's investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors also recently modified their holdings of WFC. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $28,000. BNP Paribas bought a new position in Wells Fargo & Company in the 4th quarter worth about $28,000. Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.2 %

WFC opened at $72.44 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business's 50-day moving average price is $69.06 and its 200-day moving average price is $72.17. The company has a market cap of $235.73 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.18 and a beta of 1.13.

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 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business's quarterly revenue was down 3.4% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company's payout ratio is currently 28.73%.

Wells Fargo & Company declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Raymond James decreased their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $75.34.

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.