Dynasty Wealth Management LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Dynasty Wealth Management LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 24,893 shares of the financial services provider’s stock after purchasing an additional 207 shares during the period. Dynasty Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $3,365,658,000. Northern Trust Corp boosted its stake in shares of Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock valued at $1,430,742,000 after purchasing an additional 238,131 shares during the period. Capital Research Global Investors boosted its stake in shares of Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Finally, Capital World Investors boosted its stake in shares of Wells Fargo & Company by 0.4% in the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock valued at $977,338,000 after purchasing an additional 62,099 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WFC shares. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Citigroup restated a “neutral” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Truist Financial upped their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $80.39.

Wells Fargo & Company Stock Up 1.3%

Shares of NYSE:WFC opened at $79.90 on Thursday. The stock has a market capitalization of $260.00 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $83.95. The company’s fifty day moving average is $76.85 and its two-hundred day moving average is $74.05. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.33%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.40%.

Wells Fargo & Company announced that its Board of Directors has authorized a share buyback program 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 repurchase up to 17.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.