Interchange Capital Partners LLC Acquires Shares of 3,628 Wells Fargo & Company (NYSE:WFC)

Interchange Capital Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,628 shares of the financial services provider’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $29,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the topic of several research reports. Argus upped 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. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Evercore ISI reiterated an “outperform” rating and set a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday. 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 MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $1.63 on Thursday, reaching $59.28. The company had a trading volume of 8,980,455 shares, compared to its average volume of 18,470,510. The business’s 50-day moving average is $59.43 and its 200 day moving average is $56.04. The stock has a market capitalization of $206.67 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.13 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.75%.

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.