Wells Fargo & Company (NYSE:WFC) Position Maintained by Guardian Point Capital LP

Guardian Point Capital LP held its stake in Wells Fargo & Company (NYSE:WFC) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 325,000 shares of the financial services provider’s stock at the end of the first quarter. Wells Fargo & comprises approximately 9.5% of Guardian Point Capital LP’s holdings, making the stock its 4th largest position. Guardian Point Capital LP’s holdings in Wells Fargo & were worth $18,090,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Advantage Investment Management LLC purchased a new stake in Wells Fargo & during the fourth quarter worth $1,098,000. Pacific Center for Financial Services purchased a new stake in Wells Fargo & during the fourth quarter worth $251,000. IFM Investors Pty Ltd purchased a new stake in Wells Fargo & during the fourth quarter worth $3,368,000. Heritage Way Advisors LLC purchased a new stake in Wells Fargo & during the fourth quarter worth $1,941,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new stake in Wells Fargo & during the fourth quarter worth $470,000. 75.85% of the stock is owned by institutional investors.

Shares of Wells Fargo & Company (NYSE:WFC) traded down 0.21% during mid-day trading on Friday, reaching $51.84. The company had a trading volume of 3,831,758 shares. The stock has a market capitalization of $257.33 billion, a P/E ratio of 12.77 and a beta of 0.95. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The firm’s 50 day moving average is $54.27 and its 200-day moving average is $55.02.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm 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 revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts expect that Wells Fargo & Company will post $4.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is currently 38.42%.

Wells Fargo & announced that its Board of Directors has authorized a share buyback plan 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 buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

WARNING: “[[title]]” was reported by [[site]] and is the property of of [[site]]. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at [[permalink]].

A number of equities research analysts have recently weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reaffirmed a “neutral” rating and set a $62.00 price target (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Vetr downgraded Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target for the company. in a research note on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $55.87.

In other Wells Fargo & news, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.16, for a total value of $1,043,200.00. Following the sale, the insider now owns 7 shares of the company’s stock, valued at approximately $365.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $52.58, for a total value of $2,049,989.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,278 shares of company stock worth $6,940,120. Company insiders own 0.22% of the company’s stock.

About Wells Fargo &

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).