Van Lanschot Kempen Investment Management N.V. Buys 2,348 Shares of Wells Fargo & Company $WFC

Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,156 shares of the financial services provider’s stock after acquiring an additional 2,348 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Wells Fargo & Company were worth $6,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WFC. BNP Paribas purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $28,000. Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter valued at approximately $29,000. Motco boosted its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the last quarter. Parvin Asset Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.0%

NYSE WFC opened at $77.4680 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 52 week low of $50.22 and a 52 week high of $84.83. The firm has a market capitalization of $248.16 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.20. The company has a fifty day moving average of $79.27 and a two-hundred day moving average of $74.95.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the business earned $1.33 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

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

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Wall Street Zen lowered shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Citigroup restated a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.58.

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.