Wells Fargo & Company (NYSE:WFC) Shares Acquired by Ameliora Wealth Management Ltd.

Ameliora Wealth Management Ltd. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 150.0% in the 1st quarter, Holdings Channel reports. The fund owned 5,000 shares of the financial services provider’s stock after acquiring an additional 3,000 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Wells Fargo & Company were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Eagle Asset Management Inc. boosted its holdings in Wells Fargo & Company by 27.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 2,721 shares during the last quarter. Mather Group LLC. grew its position in Wells Fargo & Company by 18.9% in the third quarter. Mather Group LLC. now owns 19,105 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 3,032 shares during the period. Westover Capital Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter worth $206,000. Synovus Financial Corp raised its position in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Wells Fargo & Company by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 3,283,375 shares of the financial services provider’s stock valued at $134,159,000 after purchasing an additional 17,016 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Argus upped their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Fourteen 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $1.96 during mid-day trading on Friday, reaching $59.39. 31,064,935 shares of the company’s stock were exchanged, compared to its average volume of 18,567,232. The business’s fifty day simple moving average is $59.55 and its 200-day simple moving average is $55.04. The stock has a market capitalization of $207.03 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

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.