Wells Fargo & Company (NYSE:WFC) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,925 shares of the financial services provider’s stock after acquiring an additional 1,911 shares during the period. Stonegate Investment Group LLC’s holdings in Wells Fargo & Company were worth $2,256,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the third quarter valued at $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on WFC shares. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Evercore ISI raised their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Down 0.8 %

Shares of NYSE:WFC traded down $0.48 during midday trading on Tuesday, hitting $59.32. 18,007,381 shares of the stock were exchanged, compared to its average volume of 19,055,352. The company has a market capitalization of $210.02 billion, a PE ratio of 12.38, a P/E/G ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The business’s fifty day simple moving average is $57.24 and its two-hundred day simple moving average is $49.97.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wells Fargo & Company Company Profile

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