13,615 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by American National Bank & Trust Co. VA

American National Bank & Trust Co. VA bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,615 shares of the financial services provider’s stock, valued at approximately $789,000.

A number of other large investors have also recently bought and sold shares of the stock. Fruth Investment Management grew its holdings in Wells Fargo & Company by 3.2% during the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after buying an additional 200 shares during the last quarter. Spinnaker Investment Group LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $219,000. First Trust Direct Indexing L.P. grew its holdings in Wells Fargo & Company by 8.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 79,007 shares of the financial services provider’s stock valued at $4,579,000 after buying an additional 6,283 shares during the last quarter. Kovack Advisors Inc. grew its holdings in Wells Fargo & Company by 2.5% during the 1st quarter. Kovack Advisors Inc. now owns 11,146 shares of the financial services provider’s stock valued at $646,000 after buying an additional 276 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its stake in shares of Wells Fargo & Company by 1.8% during the 1st quarter. Massachusetts Wealth Management now owns 31,577 shares of the financial services provider’s stock worth $1,830,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Evercore ISI increased their price target on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.36.

Wells Fargo & Company Stock Down 0.5 %

NYSE WFC traded down $0.31 during trading hours on Thursday, hitting $60.66. The company had a trading volume of 6,698,813 shares, compared to its average volume of 18,808,808. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a market capitalization of $211.48 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm’s 50 day moving average is $59.54 and its 200 day moving average is $55.34.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.13 earnings per share for the current fiscal 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 $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.31%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company 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.