Physician Wealth Advisors Inc. Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Physician Wealth Advisors Inc. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 6.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,156 shares of the financial services provider’s stock after purchasing an additional 413 shares during the period. Physician Wealth Advisors Inc.’s holdings in Wells Fargo & Company were worth $404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teza Capital Management LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $1,676,000. Sherbrooke Park Advisers LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $403,000. Rehmann Capital Advisory Group lifted its holdings in Wells Fargo & Company by 4.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 29,179 shares of the financial services provider’s stock worth $1,192,000 after buying an additional 1,248 shares during the last quarter. Waverly Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 1.8% in the 3rd quarter. Waverly Advisors LLC now owns 16,071 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 291 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WFC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. HSBC raised their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Jefferies Financial Group lifted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Citigroup reissued a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, Compass Point reissued a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $1.97 during trading on Friday, reaching $59.39. The company’s stock had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The business’s fifty day moving average price is $59.55 and its 200-day moving average price is $55.10. The firm has a market cap of $207.05 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 annualized dividend and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is 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.