Matrix Asset Advisors Inc. NY boosted its stake in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,408 shares of the financial services provider’s stock after purchasing an additional 709 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Wells Fargo & Company were worth $12,183,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cypress Wealth Services LLC raised its stake in shares of Wells Fargo & Company by 3.9% in the 1st quarter. Cypress Wealth Services LLC now owns 43,417 shares of the financial services provider’s stock valued at $2,104,000 after acquiring an additional 1,629 shares during the period. Sweet Financial Partners LLC grew its holdings in Wells Fargo & Company by 11.7% during the 1st quarter. Sweet Financial Partners LLC now owns 6,894 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 720 shares in the last quarter. Cullinan Associates Inc. grew its holdings in Wells Fargo & Company by 59.8% during the 1st quarter. Cullinan Associates Inc. now owns 25,270 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 9,455 shares in the last quarter. Empirical Finance LLC grew its holdings in Wells Fargo & Company by 11.2% during the 1st quarter. Empirical Finance LLC now owns 78,147 shares of the financial services provider’s stock worth $3,787,000 after acquiring an additional 7,869 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Wells Fargo & Company by 39.3% in the 1st quarter. Empowered Funds LLC now owns 53,163 shares of the financial services provider’s stock valued at $2,576,000 after buying an additional 14,989 shares during the period. 74.01% of the stock is currently owned by institutional investors.
Shares of WFC opened at $39.92 on Monday. Wells Fargo & Company has a 52-week low of $36.54 and a 52-week high of $60.30. The business’s fifty-day moving average is $42.50 and its 200-day moving average is $48.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 0.80. The firm has a market cap of $151.31 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.96 and a beta of 1.16.
Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The company had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 4.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. Wells Fargo & Company’s dividend payout ratio is currently 20.79%.
Several brokerages have recently issued reports on WFC. Raymond James lowered their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $58.00 to $56.00 in a research report on Monday, April 11th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Finally, BMO Capital Markets cut their price objective on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $57.03.
In other news, EVP Kleber Santos sold 22,700 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the completion of the sale, the executive vice president now directly owns 21,478 shares in the company, valued at approximately $954,482.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
Wells Fargo & Company Company Profile (Get Rating)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments. Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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