Wells Fargo & Company (NYSE:WFC) Shares Purchased by Blume Capital Management Inc.

Blume Capital Management Inc. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 143,603 shares of the financial services provider’s stock after acquiring an additional 325 shares during the period. Wells Fargo & Company makes up about 1.8% of Blume Capital Management Inc.’s holdings, making the stock its 22nd largest holding. Blume Capital Management Inc.’s holdings in Wells Fargo & Company were worth $7,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Financial Corp IN boosted its position in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 214 shares during the period. CX Institutional grew its stake in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after buying an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after buying an additional 228 shares during the period. Prio Wealth Limited Partnership lifted its stake in Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in Wells Fargo & Company by 19.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 244 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WFC shares. Jefferies Financial Group raised their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. HSBC upped their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.31 on Thursday, reaching $61.19. 2,606,218 shares of the company were exchanged, compared to its average volume of 18,707,641. The company has a 50-day moving average of $57.86 and a 200-day moving average of $50.62. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $213.33 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $37.18 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.