Revolve Wealth Partners LLC Buys 361 Shares of Wells Fargo & Company (NYSE:WFC)

Revolve Wealth Partners LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 8.2% during the 1st quarter, Holdings Channel reports. The firm owned 4,751 shares of the financial services provider’s stock after acquiring an additional 361 shares during the period. Revolve Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ironwood Wealth Management LLC. bought a new position in Wells Fargo & Company during the fourth quarter worth about $221,000. Brighton Jones LLC lifted its holdings in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $2,262,000. Exane Asset Management bought a new position in Wells Fargo & Company during the fourth quarter worth about $97,000. Finally, NatWest Group plc lifted its holdings in Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after acquiring an additional 63,102 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WFC has been the topic of several recent analyst reports. Barclays reduced their target price on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. TD Cowen initiated coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price on the stock. Truist Financial reduced their target price 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. Bank of America boosted their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Seven 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.48.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $76.38 on Friday. The business’s 50 day moving average price is $70.42 and its two-hundred day moving average price is $72.97. The company has a market cap of $248.55 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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

Wells Fargo & Company announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders 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 2.09%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

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.