Wells Fargo & Company (NYSE:WFC) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,161 shares of the financial services provider’s stock after purchasing an additional 16,492 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Wells Fargo & Company were worth $4,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fruth Investment Management increased its stake in shares of Wells Fargo & Company by 3.2% in the first quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 200 shares during the period. Lazari Capital Management Inc. grew its position in Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 202 shares in the last quarter. Webster Bank N. A. grew its position in Wells Fargo & Company by 2.0% during the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares in the last quarter. First Financial Corp IN grew its position in Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after buying an additional 214 shares in the last quarter. Finally, CX Institutional grew its position in Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after buying an additional 217 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.4 %

Shares of WFC traded up $0.21 during trading hours on Friday, reaching $59.45. The stock had a trading volume of 7,652,173 shares, compared to its average volume of 18,454,076. The company has a market cap of $207.26 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.50 and a beta of 1.17. 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 has a 52 week low of $38.38 and a 52 week high of $62.55. The firm has a 50-day moving average of $59.39 and a 200 day moving average of $56.06.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.12 earnings per share 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. Stockholders of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. Wells Fargo & Company’s dividend payout ratio is 28.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WFC shares. Evercore ISI reissued an “outperform” rating and set a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. HSBC lifted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley lifted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.31.

About Wells Fargo & Company

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.