Massachusetts Wealth Management Acquires 550 Shares of Wells Fargo & Company (NYSE:WFC)

Massachusetts Wealth Management grew its holdings in Wells Fargo & Company (NYSE:WFC) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,577 shares of the financial services provider’s stock after acquiring an additional 550 shares during the quarter. Massachusetts Wealth Management’s holdings in Wells Fargo & Company were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lazari Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 202 shares during the period. Webster Bank N. A. raised its stake in shares of Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN raised its stake in shares of Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares in the last quarter. CX Institutional raised its stake in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its stake in shares of Wells Fargo & Company by 3.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 219 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.5 %

Shares of Wells Fargo & Company stock traded down $0.31 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. The stock has a market capitalization of $211.48 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.50 and a beta of 1.17. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The stock has a 50 day moving average of $59.54 and a 200-day moving average of $55.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.13 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WFC shares. Morgan Stanley increased their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Argus raised their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.36.

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.