MV Capital Management Inc. Grows Position in Wells Fargo & Company (NYSE:WFC)

MV Capital Management Inc. boosted its position in Wells Fargo & Company (NYSE:WFC) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,303 shares of the financial services provider’s stock after acquiring an additional 1,107 shares during the quarter. MV Capital Management Inc.’s holdings in Wells Fargo & Company were worth $887,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $403,000. Waverly Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 1.8% in the 3rd quarter. Waverly Advisors LLC now owns 16,071 shares of the financial services provider’s stock valued at $657,000 after buying an additional 291 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $486,000. AQR Capital Management LLC raised its stake in 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 worth $14,647,000 after acquiring an additional 22,581 shares in the last quarter. Finally, Becker Capital Management Inc. lifted its position in Wells Fargo & Company by 7.3% in the third quarter. Becker Capital Management Inc. now owns 15,178 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 1,034 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several research reports. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.38 during trading hours on Tuesday, hitting $60.97. The company’s stock had a trading volume of 9,525,738 shares, compared to its average volume of 18,463,414. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day moving average is $59.54 and its two-hundred day moving average is $55.22. The company has a market capitalization of $212.56 billion, a PE ratio of 12.71, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

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.