Advantage Trust Co Takes $39,000 Position in Wells Fargo & Company (NYSE:WFC)

Advantage Trust Co purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 800 shares of the financial services provider’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after buying an additional 335,560 shares during the period. LSV Asset Management grew its holdings in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after acquiring an additional 2,677,050 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Wells Fargo & Company by 2.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after acquiring an additional 221,459 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WFC. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. 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 report on Wednesday, May 1st. Citigroup reissued a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group lifted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research report on Thursday, January 18th. Fourteen equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.07 during mid-day trading on Thursday, reaching $61.30. The company’s stock had a trading volume of 14,223,917 shares, compared to its average volume of 18,845,982. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76. The business has a 50 day moving average price of $57.99 and a 200-day moving average price of $50.70. The firm has a market cap of $213.71 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.28%. Wells Fargo & Company’s payout ratio is currently 29.23%.

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.