Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,933 shares of the financial services provider’s stock, valued at approximately $917,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Level Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Gibson Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. KRS Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Addison Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 141.0% during the fourth quarter. Addison Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 368 shares during the period. Finally, US Asset Management LLC acquired a new position in shares of Wells Fargo & Company during the first quarter valued at $32,000. 74.01% of the stock is owned by institutional investors.
WFC has been the subject of several research analyst reports. Raymond James reduced their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Citigroup raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $58.00 to $56.00 in a report on Monday, April 11th. BMO Capital Markets reduced their price objective on shares of Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, April 18th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Finally, Royal Bank of Canada reduced their price objective on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.03.
NYSE WFC opened at $39.17 on Friday. The stock’s 50-day moving average price is $42.63 and its two-hundred day moving average price is $48.70. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. The company has a market cap of $148.47 billion, a PE ratio of 8.14, a PEG ratio of 0.98 and a beta of 1.13. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The firm had revenue of $17.59 billion for the quarter, compared to the consensus estimate of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. Research analysts forecast that Wells Fargo & Company will post 4.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.55%. Wells Fargo & Company’s dividend payout ratio is 20.79%.
About Wells Fargo & Company (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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