BKM Wealth Management LLC Increases Holdings in Wells Fargo & Company (NYSE:WFC)

BKM Wealth Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 26.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,523 shares of the financial services provider’s stock after purchasing an additional 522 shares during the period. BKM Wealth Management LLC’s holdings in Wells Fargo & Company were worth $146,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Slagle Financial LLC boosted its holdings in shares of Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the period. Ballentine Partners LLC lifted its holdings in Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares during the period. Trust Point Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $2,499,000. Wedmont Private Capital lifted its holdings in Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after buying an additional 21,496 shares during the period. Finally, G2 Capital Management LLC OH purchased a new stake in Wells Fargo & Company during the fourth quarter worth $278,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WFC shares. Citigroup restated a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI upped 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group upped their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $59.15.

Wells Fargo & Company Trading Up 2.0 %

WFC stock opened at $60.59 on Tuesday. The company’s 50-day simple moving average is $59.55 and its 200-day simple moving average is $55.15. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. 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 $211.24 billion, a P/E ratio of 12.65, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the company posted $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 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.