Wells Fargo & Company (NYSE:WFC) Shares Acquired by Webster Bank N. A.

Webster Bank N. A. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,153 shares of the financial services provider’s stock after purchasing an additional 202 shares during the quarter. Webster Bank N. A.’s holdings in Wells Fargo & Company were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $29,000. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $25,000. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC opened at $59.39 on Friday. 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 firm has a market cap of $207.05 billion, a PE ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17. The business has a fifty day simple moving average of $59.55 and a 200-day simple moving average of $55.10. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WFC. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. HSBC boosted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.15.

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.