Wells Fargo & Company (NYSE:WFC) Shares Acquired by Grassi Investment Management

Grassi Investment Management raised its holdings in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 17.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,220 shares of the financial services provider’s stock after buying an additional 29,304 shares during the period. Grassi Investment Management’s holdings in Wells Fargo & Company were worth $7,335,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Meyer Handelman Co. boosted its holdings in shares of Wells Fargo & Company by 0.4% in the fourth quarter. Meyer Handelman Co. now owns 254,542 shares of the financial services provider’s stock worth $10,510,000 after buying an additional 1,108 shares during the period. Ulysses Management LLC raised its position in Wells Fargo & Company by 25.0% during the third quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock valued at $2,011,000 after buying an additional 10,000 shares during the period. Calton & Associates Inc. boosted its position in Wells Fargo & Company by 23.2% during the 4th quarter. Calton & Associates Inc. now owns 6,216 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 1,170 shares during the period. Alliance Wealth Advisors LLC grew its stake in Wells Fargo & Company by 2.9% during the 1st quarter. Alliance Wealth Advisors LLC now owns 11,119 shares of the financial services provider’s stock valued at $416,000 after acquiring an additional 311 shares in the last quarter. Finally, Thrive Wealth Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 72.11% of the company’s stock.

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Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Wells Fargo & Company from $45.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Friday, March 24th. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Barclays dropped their target price on Wells Fargo & Company from $64.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. Raymond James lifted their price target on Wells Fargo & Company from $47.00 to $48.00 and gave the company a “strong-buy” rating in a report on Monday, April 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Wells Fargo & Company from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, April 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

Wells Fargo & Company Stock Down 0.7 %

NYSE WFC opened at $41.89 on Wednesday. Wells Fargo & Company has a 1-year low of $35.25 and a 1-year high of $48.84. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $40.42 and its two-hundred day moving average is $41.96. The company has a market capitalization of $157.18 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.87 and a beta of 1.12.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $20.06 billion. During the same period in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 4.73 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, May 4th. Wells Fargo & Company’s dividend payout ratio is currently 34.38%.

Wells Fargo & Company Company Profile

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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.