5,182 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,182 shares of the financial services provider’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. Hodges Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $486,000. AQR Capital Management LLC boosted its position in shares of Wells Fargo & Company by 6.7% during the 3rd quarter. AQR Capital Management LLC now owns 358,464 shares of the financial services provider’s stock valued at $14,647,000 after acquiring an additional 22,581 shares during the last quarter. Shelton Capital Management grew its holdings in shares of Wells Fargo & Company by 46.2% during the third quarter. Shelton Capital Management now owns 94,325 shares of the financial services provider’s stock worth $3,854,000 after purchasing an additional 29,800 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Wells Fargo & Company by 336.3% in the third quarter. Axxcess Wealth Management LLC now owns 53,427 shares of the financial services provider’s stock worth $2,183,000 after purchasing an additional 41,182 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in Wells Fargo & Company by 76.8% in the third quarter. Alps Advisors Inc. now owns 23,743 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 10,312 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.6 %

Shares of WFC traded down $0.38 during trading hours on Wednesday, reaching $60.59. 6,698,813 shares of the company traded hands, compared to its average volume of 18,370,920. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The company’s fifty day moving average price is $59.54 and its two-hundred day moving average price is $55.30. The company has a market capitalization of $211.24 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (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 during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.13 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HSBC increased their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Morgan Stanley raised their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Citigroup reissued a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Fourteen 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 stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $59.36.

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.