Wells Fargo & Company (NYSE:WFC) Shares Acquired by Webster Bank N. A.

Webster Bank N. A. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,153 shares of the financial services provider’s stock after purchasing an additional 202 shares during the quarter. Webster Bank N. A.’s holdings in Wells Fargo & Company were worth $588,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Teza Capital Management LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $1,676,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth $403,000. Rehmann Capital Advisory Group raised its stake in Wells Fargo & Company by 4.5% in the third quarter. Rehmann Capital Advisory Group now owns 29,179 shares of the financial services provider’s stock valued at $1,192,000 after buying an additional 1,248 shares in the last quarter. Waverly Advisors LLC lifted its holdings in Wells Fargo & Company by 1.8% during the 3rd quarter. Waverly Advisors LLC now owns 16,071 shares of the financial services provider’s stock worth $657,000 after buying an additional 291 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $59.39 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $59.55 and a 200-day simple moving average of $55.10. The company has a market cap of $207.05 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

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 (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. HSBC increased their target price 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. Citigroup reissued a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.15.

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.