Wells Fargo & Company (WFC) Position Lifted by Johanson Financial Advisors Inc.
Johanson Financial Advisors Inc. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,374 shares of the financial services provider’s stock after acquiring an additional 1,626 shares during the period. Johanson Financial Advisors Inc.’s holdings in Wells Fargo & were worth $1,021,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Boston Partners grew its holdings in Wells Fargo & by 50.0% during the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock worth $442,432,000 after acquiring an additional 2,648,763 shares during the period. Canada Pension Plan Investment Board grew its holdings in Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock worth $443,728,000 after acquiring an additional 3,637,100 shares during the period. Gateway Investment Advisers LLC grew its holdings in Wells Fargo & by 1.6% during the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock worth $150,186,000 after acquiring an additional 41,531 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Wells Fargo & by 3.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 782,897 shares of the financial services provider’s stock worth $43,576,000 after acquiring an additional 22,725 shares during the period. Finally, Adviser Investments LLC acquired a new position in Wells Fargo & during the first quarter worth $5,588,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
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WFC has been the topic of a number of research analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $62.00 target price on shares of Wells Fargo & in a research report on Thursday, June 8th. BidaskClub upgraded Wells Fargo & from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Vetr downgraded Wells Fargo & from a “buy” rating to a “hold” rating and set a $54.80 target price on the stock. in a research report on Monday, June 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & in a research report on Monday, June 12th. Finally, Zacks Investment Research downgraded Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $56.25.
Shares of Wells Fargo & Company (NYSE:WFC) traded up 0.35% during mid-day trading on Friday, hitting $54.25. The company had a trading volume of 18,047,820 shares. The firm’s 50 day moving average is $51.89 and its 200-day moving average is $53.88. The firm has a market cap of $269.29 billion, a PE ratio of 13.36 and a beta of 0.96. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post $4.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.88%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 2nd. Wells Fargo &’s payout ratio is presently 38.42%.
Wells Fargo & declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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