Continuum Advisory LLC Increases Position in Wells Fargo & Company (NYSE:WFC)

Continuum Advisory LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,919 shares of the financial services provider’s stock after buying an additional 392 shares during the period. Continuum Advisory LLC’s holdings in Wells Fargo & Company were worth $1,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of WFC. Spinnaker Trust lifted its stake in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 134 shares during the last quarter. Safeguard Investment Advisory Group LLC grew its stake in shares of Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 137 shares in the last quarter. Finally, Crown Wealth Group LLC grew its stake in shares of Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 140 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Raymond James cut their price objective 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. Truist Financial reduced their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Piper Sandler dropped their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $75.73.

Wells Fargo & Company Trading Down 3.1%

Shares of WFC opened at $73.20 on Thursday. The business’s 50-day moving average price is $69.93 and its 200 day moving average price is $72.69. 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 stock has a market capitalization of $238.19 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analysts’ expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be issued 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 dividend yield of 2.19%. Wells Fargo & Company’s dividend payout ratio is 28.73%.

Wells Fargo & Company announced that its board has initiated a stock repurchase plan on Tuesday, April 29th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Wells Fargo & Company

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.