Wells Fargo & Company (NYSE:WFC) Shares Purchased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 154.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,222 shares of the financial services provider’s stock after acquiring an additional 16,515 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Wells Fargo & Company by 208.0% in 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 in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on WFC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Argus increased their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.36.

Wells Fargo & Company Trading Down 0.9 %

WFC traded down $0.53 during trading hours on Friday, reaching $60.13. The company’s stock had a trading volume of 634,711 shares, compared to its average volume of 18,232,355. The stock has a market cap of $209.63 billion, a PE ratio of 12.66, a P/E/G ratio of 1.49 and a beta of 1.17. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50-day moving average is $59.55 and its 200-day moving average is $55.37.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for 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 company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

About Wells Fargo & Company

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.