Wells Fargo & Company (NYSE:WFC) Stake Boosted by Leo Wealth LLC

Leo Wealth LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,747 shares of the financial services provider’s stock after purchasing an additional 241 shares during the period. Leo Wealth LLC’s holdings in Wells Fargo & Company were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $29,000. Wetzel Investment Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter worth $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock traded down $0.01 on Friday, hitting $59.23. 11,996,864 shares of the company’s stock traded hands, compared to its average volume of 18,487,109. The stock has a market cap of $206.49 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.50 and a beta of 1.17. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average of $59.39 and a 200-day moving average of $56.06.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid 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 is currently 28.75%.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Compass Point restated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Evercore ISI reaffirmed an “outperform” rating and set a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday. Argus increased their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $59.31.

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.