Signet Financial Management LLC Acquires 207 Shares of Wells Fargo & Company (NYSE:WFC)

Signet Financial Management LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 57,123 shares of the financial services provider’s stock after buying an additional 207 shares during the quarter. Signet Financial Management LLC’s holdings in Wells Fargo & Company were worth $4,101,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WFC. Norges Bank bought a new stake in Wells Fargo & Company in the 4th quarter worth about $3,365,658,000. Capital Research Global Investors increased its holdings in Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. GAMMA Investing LLC increased its holdings in Wells Fargo & Company by 7,887.9% in the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider’s stock worth $243,589,000 after buying an additional 3,350,605 shares in the last quarter. Northern Trust Corp increased its holdings in Wells Fargo & Company by 10.7% in the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock worth $2,411,992,000 after buying an additional 3,307,855 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Wells Fargo & Company in the 4th quarter worth about $198,801,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.1%

NYSE WFC opened at $76.40 on Tuesday. The stock’s 50 day moving average is $70.50 and its 200 day moving average is $72.96. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a market cap of $248.61 billion, a PE ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted 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 company 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 firm’s revenue was down 3.4% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

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

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Truist Financial cut their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note 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 research note on Wednesday, June 4th. 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 research note on Wednesday, June 4th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.48.

Wells Fargo & Company 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.