3,476 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Trust Co. of Virginia VA

Trust Co. of Virginia VA purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,476 shares of the financial services provider’s stock, valued at approximately $201,000.

Other large investors have also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $25,000. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Wells Fargo & Company Price Performance

NYSE:WFC opened at $59.39 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $59.55 and its 200 day moving average price is $55.10. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The firm has a market cap of $207.05 billion, a P/E ratio of 12.40, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its earnings results 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 business 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 business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed 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. 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%.

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.