Revolve Wealth Partners LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,946 shares of the financial services provider’s stock, valued at approximately $229,000.
Other large investors also recently modified their holdings of the company. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Finally, Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Stock Up 0.7 %
Wells Fargo & Company stock opened at $57.42 on Friday. The stock has a market cap of $200.18 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. 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 has a one year low of $38.38 and a one year high of $62.55. The stock has a fifty day moving average of $59.59 and a 200 day moving average of $54.93.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.
Wall Street Analyst Weigh In
A number of brokerages have commented on WFC. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Evercore ISI lifted their price target on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.15.
Read Our Latest Stock Analysis on Wells Fargo & Company
Wells Fargo & Company 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.
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