Sentinus LLC Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Sentinus LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,352 shares of the financial services provider’s stock after purchasing an additional 800 shares during the period. Sentinus LLC’s holdings in Wells Fargo & Company were worth $306,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. BNP Paribas acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. increased its position in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $76.21 on Friday. The firm has a market cap of $248.01 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.18 and a beta of 1.13. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a fifty day moving average of $69.60 and a two-hundred day moving average of $72.54.

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

Wells Fargo & Company announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Bank of America lowered their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.73.

Wells Fargo & 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.