Ameliora Wealth Management Ltd. Increases Stake in Wells Fargo & Company (NYSE:WFC)

Ameliora Wealth Management Ltd. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 150.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the financial services provider’s stock after buying an additional 3,000 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Wells Fargo & Company were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded up $1.96 during trading on Friday, hitting $59.39. 31,064,935 shares of the company’s stock traded hands, compared to its average volume of 18,567,232. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock has a market capitalization of $207.03 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.41 and a beta of 1.17. The business has a fifty day simple moving average of $59.55 and a 200 day simple moving average of $55.04. 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 announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.14 EPS 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 issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.36%. Wells Fargo & Company’s payout ratio is presently 29.23%.

Analyst Ratings Changes

Several analysts have commented on the company. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.15.

About Wells Fargo & Company

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.