Wells Fargo & Company (NYSE:WFC) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,259 shares of the financial services provider’s stock after purchasing an additional 320 shares during the quarter. Proficio Capital Partners LLC’s holdings in Wells Fargo & Company were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in 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 period. Finally, Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the 4th quarter valued at about $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.6 %

Shares of WFC traded down $0.36 during mid-day trading on Wednesday, hitting $59.52. 2,633,762 shares of the company’s stock were exchanged, compared to its average volume of 18,104,189. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a fifty day moving average of $59.54 and a two-hundred day moving average of $55.67. 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 has a market cap of $207.51 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.45 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $20.19 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WFC shares. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley upped their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Thirteen 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 data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.36.

Wells Fargo & 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.