Steigerwald Gordon & Koch Inc. Has $24.25 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Steigerwald Gordon & Koch Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 337,832 shares of the financial services provider’s stock after selling 3,914 shares during the period. Wells Fargo & Company accounts for approximately 2.7% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 15th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Wells Fargo & Company were worth $24,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Cypress Wealth Services LLC lifted its holdings in shares of Wells Fargo & Company by 9.8% during the 1st quarter. Cypress Wealth Services LLC now owns 17,577 shares of the financial services provider’s stock valued at $1,262,000 after buying an additional 1,573 shares during the last quarter. Fermata Advisors LLC raised its position in Wells Fargo & Company by 308.4% during the first quarter. Fermata Advisors LLC now owns 12,751 shares of the financial services provider’s stock valued at $915,000 after acquiring an additional 9,629 shares in the last quarter. HF Advisory Group LLC lifted its stake in Wells Fargo & Company by 10.4% in the first quarter. HF Advisory Group LLC now owns 41,906 shares of the financial services provider’s stock valued at $3,008,000 after acquiring an additional 3,960 shares during the last quarter. Secure Asset Management LLC lifted its stake in Wells Fargo & Company by 21.7% in the first quarter. Secure Asset Management LLC now owns 6,166 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Wells Fargo & Company by 0.8% in the first quarter. Portside Wealth Group LLC now owns 56,588 shares of the financial services provider’s stock worth $3,975,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $75.43 on Thursday. The company’s fifty day moving average is $70.26 and its two-hundred day moving average is $72.94. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $245.46 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a $0.40 dividend. 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 2.12%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Wells Fargo & Company announced that its board has initiated a share repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WFC. TD Cowen started coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Bank of America increased their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.48.

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.