Syverson Strege & Co Purchases 2,122 Shares of Wells Fargo & Company (NYSE:WFC)

Syverson Strege & Co grew its stake in Wells Fargo & Company (NYSE:WFC) by 56.5% in the first quarter, HoldingsChannel.com reports. The fund owned 5,879 shares of the financial services provider’s stock after acquiring an additional 2,122 shares during the period. Syverson Strege & Co’s holdings in Wells Fargo & Company were worth $285,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in WFC. Crake Asset Management LLP increased its stake in shares of Wells Fargo & Company by 25.0% in the 3rd quarter. Crake Asset Management LLP now owns 1,423,985 shares of the financial services provider’s stock valued at $66,087,000 after acquiring an additional 285,000 shares during the last quarter. Verition Fund Management LLC bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $410,000. Atria Investments LLC increased its stake in Wells Fargo & Company by 44.4% during the 3rd quarter. Atria Investments LLC now owns 114,539 shares of the financial services provider’s stock worth $5,316,000 after purchasing an additional 35,209 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in Wells Fargo & Company by 10.6% during the 3rd quarter. Cetera Advisor Networks LLC now owns 165,771 shares of the financial services provider’s stock worth $7,693,000 after purchasing an additional 15,922 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in Wells Fargo & Company by 23.9% during the 3rd quarter. Cetera Advisors LLC now owns 77,598 shares of the financial services provider’s stock worth $3,601,000 after purchasing an additional 14,951 shares in the last quarter. 74.01% of the stock is owned by institutional investors.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the sale, the executive vice president now owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

A number of analysts recently issued reports on WFC shares. Morgan Stanley lowered their target price on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, March 28th. Barclays upped their price target on Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $58.00 to $56.00 in a research report on Monday, April 11th. BMO Capital Markets reduced their price target on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, April 18th. Finally, Piper Sandler set a $48.00 price target on Wells Fargo & Company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.62.

NYSE WFC opened at $38.60 on Thursday. The company has a market cap of $146.31 billion, a PE ratio of 8.02, a PEG ratio of 0.93 and a beta of 1.13. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30. The stock has a 50 day moving average of $43.55 and a 200-day moving average of $49.10.

Wells Fargo & Company (NYSE:WFC – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business had revenue of $17.59 billion during the quarter, compared to the consensus estimate of $17.82 billion. During the same quarter last year, the firm posted $1.05 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 4.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is 20.79%.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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