Wells Fargo & Company (NYSE:WFC) Holdings Lifted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its position in Wells Fargo & Company (NYSE:WFC) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,699 shares of the financial services provider’s stock after purchasing an additional 1,345 shares during the period. Geneos Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $2,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fruth Investment Management lifted its stake in Wells Fargo & Company by 3.2% in the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 200 shares during the last quarter. Lazari Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 202 shares during the period. Webster Bank N. A. increased its stake in Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 202 shares during the last quarter. First Financial Corp IN increased its stake in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares during the last quarter. Finally, CX Institutional increased its stake in Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after acquiring an additional 217 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFC. BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday. Argus upped their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. HSBC upped their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Thirteen equities 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.52.

Wells Fargo & Company Stock Up 0.7 %

NYSE:WFC traded up $0.44 on Thursday, hitting $60.16. The stock had a trading volume of 15,529,197 shares, compared to its average volume of 18,158,240. 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 stock has a market cap of $209.74 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm’s fifty day simple moving average is $59.54 and its two-hundred day simple moving average is $55.69.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during 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%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. Analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed 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 yield of 2.33%. 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.