Kathmere Capital Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,916 shares of the financial services provider’s stock after acquiring an additional 324 shares during the period. Kathmere Capital Management LLC’s holdings in Wells Fargo & Company were worth $459,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.
Wells Fargo & Company Price Performance
Wells Fargo & Company stock opened at $59.39 on Friday. The stock has a market cap of $207.05 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a fifty day simple moving average of $59.55 and a 200-day simple moving average of $55.10. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. 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 Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.36%. 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 recent analyst reports. Evercore ISI raised their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.15.
View Our Latest Stock Report on WFC
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.
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