Nottingham Advisors Inc. grew its stake in Wells Fargo & Company (NYSE:WFC) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,618 shares of the financial services provider’s stock after buying an additional 190 shares during the period. Nottingham Advisors Inc.’s holdings in Wells Fargo & were worth $480,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Alexandria Capital LLC lifted its stake in shares of Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 6 shares during the period. Brick & Kyle Associates lifted its stake in shares of Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Wells Fargo & in the 1st quarter worth $124,000. Gradient Investments LLC lifted its stake in shares of Wells Fargo & by 58.6% in the 1st quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 921 shares during the period. Finally, Winch Advisory Services LLC lifted its stake in shares of Wells Fargo & by 0.7% in the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 18 shares during the period. Institutional investors and hedge funds own 75.19% of the company’s stock.
Shares of Wells Fargo & Company (NYSE:WFC) traded up 0.72% during trading on Friday, hitting $51.66. The stock had a trading volume of 28,494,345 shares. The company has a market capitalization of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96. The firm has a 50 day moving average of $51.92 and a 200 day moving average of $54.04. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Analysts expect that Wells Fargo & Company will post $4.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. Wells Fargo &’s dividend payout ratio is 38.42%.
Wells Fargo & announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
A number of brokerages have recently issued reports on WFC. Buckingham Research reiterated a “neutral” rating and issued a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a report on Monday, July 10th. Keefe, Bruyette & Woods set a $62.00 target price on shares of Wells Fargo & and gave the company a “buy” rating in a report on Friday, May 19th. UBS AG restated a “neutral” rating and set a $56.00 target price (down from $59.00) on shares of Wells Fargo & in a report on Friday. Zacks Investment Research downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & in a report on Thursday, June 8th. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.47.
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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