Blume Capital Management Inc. Has $7.07 Million Stake in Wells Fargo & Company (NYSE:WFC)

Blume Capital Management Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,603 shares of the financial services provider’s stock after purchasing an additional 325 shares during the quarter. Wells Fargo & Company accounts for 1.8% of Blume Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. Blume Capital Management Inc.’s holdings in Wells Fargo & Company were worth $7,068,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. LSV Asset Management grew its stake 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 buying an additional 2,677,050 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Wells Fargo & Company by 131.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after purchasing an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB lifted its stake in Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP grew its position in Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after acquiring an additional 1,549,979 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth about $54,894,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.5 %

NYSE:WFC traded up $0.31 on Thursday, hitting $61.19. The stock had a trading volume of 2,606,218 shares, compared to its average volume of 18,707,641. Wells Fargo & Company has a 1 year low of $37.18 and a 1 year high of $61.76. The firm’s fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $50.62. The stock has a market cap of $213.33 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Compass Point reissued a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Raymond James boosted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.99.

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.