Wells Fargo & Company (NYSE:WFC) Shares Acquired by Leonard Rickey Investment Advisors P.L.L.C.

Leonard Rickey Investment Advisors P.L.L.C. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,184 shares of the financial services provider’s stock after buying an additional 791 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in Wells Fargo & Company were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after purchasing an additional 106,260 shares during the period. Tributary Capital Management LLC boosted its position in Wells Fargo & Company by 19.5% during the 1st quarter. Tributary Capital Management LLC now owns 11,650 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 1,900 shares during the period. Miracle Mile Advisors LLC boosted its position in Wells Fargo & Company by 1.2% during the 1st quarter. Miracle Mile Advisors LLC now owns 20,454 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 235 shares during the period. Echo45 Advisors LLC purchased a new stake in Wells Fargo & Company during the 1st quarter worth $204,000. Finally, BKM Wealth Management LLC boosted its position in Wells Fargo & Company by 26.1% during the 1st quarter. BKM Wealth Management LLC now owns 2,523 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 522 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WFC shares. The Goldman Sachs Group upped 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 report on Monday, April 1st. Argus upped their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. HSBC upped their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI upped their price objective on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Stock Performance

WFC traded up $0.05 on Tuesday, hitting $60.64. 3,931,094 shares of the company’s stock were exchanged, compared to its average volume of 18,416,764. The firm has a market cap of $211.41 billion, a PE ratio of 12.70, a P/E/G ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a fifty day moving average of $59.55 and a two-hundred day moving average of $55.15. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & 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.