Aprio Wealth Management LLC Has $331,000 Position in Wells Fargo & Company (NYSE:WFC)

Aprio Wealth Management LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,710 shares of the financial services provider’s stock after purchasing an additional 696 shares during the quarter. Aprio Wealth Management LLC’s holdings in Wells Fargo & Company were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $58.10 on Friday. The company has a market capitalization of $202.55 billion, a PE ratio of 12.13, a PEG ratio of 1.45 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock’s 50 day moving average price is $59.54 and its 200-day moving average price is $54.60. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.99.

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.