Breakwater Capital Group Purchases 1,454 Shares of Wells Fargo & Company (NYSE:WFC)

Breakwater Capital Group grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,906 shares of the financial services provider’s stock after buying an additional 1,454 shares during the period. Breakwater Capital Group’s holdings in Wells Fargo & Company were worth $980,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WFC. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WFC shares. Evercore ISI increased their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Jefferies Financial Group increased their price target 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. Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.15.

Wells Fargo & Company Trading Up 3.4 %

NYSE WFC traded up $1.97 during mid-day trading on Friday, reaching $59.39. 31,074,465 shares of the stock were exchanged, compared to its average volume of 18,610,088. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The stock has a 50 day simple moving average of $59.55 and a 200-day simple moving average of $55.15. The stock has a market cap of $207.05 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping 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 last year, the firm earned $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 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.