CKW Financial Group maintained its position in Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,744 shares of the financial services provider’s stock at the close of the 1st quarter. Wells Fargo & comprises 0.1% of CKW Financial Group’s portfolio, making the stock its 28th biggest holding. CKW Financial Group’s holdings in Wells Fargo & were worth $208,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in WFC. Alexandria Capital LLC raised its holdings in shares of Wells Fargo & by 0.3% during the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its holdings in shares of Wells Fargo & by 0.7% during the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after buying an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in Wells Fargo & by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 24 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Wells Fargo & by 1.7% in the 1st quarter. Wedge Capital Management L L P NC now owns 3,765 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 62 shares in the last quarter. Finally, First Bank & Trust increased its holdings in Wells Fargo & by 0.4% in the 1st quarter. First Bank & Trust now owns 20,410 shares of the financial services provider’s stock worth $1,136,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.
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Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research restated a “neutral” rating and set a $62.00 target price (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Keefe, Bruyette & Woods restated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Finally, Instinet reiterated a “buy” rating and issued a $64.00 price target on shares of Wells Fargo & in a report on Wednesday, July 12th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.47.
Shares of Wells Fargo & Company (WFC) traded up 0.72% on Friday, reaching $51.66. The company had a trading volume of 28,494,345 shares. The stock’s 50 day moving average is $51.92 and its 200 day moving average is $54.04. The firm has a market capitalization of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post $4.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 3.02%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.
Wells Fargo & announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Wells Fargo & Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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