Atlas Brown Inc. Increases Position in Wells Fargo & Company (NYSE:WFC)

Atlas Brown Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,178 shares of the financial services provider’s stock after buying an additional 232 shares during the period. Atlas Brown Inc.’s holdings in Wells Fargo & Company were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Bison Wealth LLC increased its position in Wells Fargo & Company by 2.5% during the third quarter. Bison Wealth LLC now owns 48,030 shares of the financial services provider’s stock worth $1,963,000 after purchasing an additional 1,161 shares during the last quarter. Rathbones Group PLC acquired a new position in Wells Fargo & Company during the third quarter worth approximately $4,741,000. V Square Quantitative Management LLC increased its position in shares of Wells Fargo & Company by 1,521.8% in the third quarter. V Square Quantitative Management LLC now owns 4,622 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 4,337 shares in the last quarter. Provence Wealth Management Group increased its position in shares of Wells Fargo & Company by 4.6% in the third quarter. Provence Wealth Management Group now owns 9,071 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 396 shares in the last quarter. Finally, Institutional & Family Asset Management LLC increased its position in shares of Wells Fargo & Company by 0.3% in the third quarter. Institutional & Family Asset Management LLC now owns 136,249 shares of the financial services provider’s stock worth $5,567,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.4 %

NYSE WFC opened at $59.05 on Thursday. The company’s fifty day moving average price is $59.46 and its two-hundred day moving average price is $54.48. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a market capitalization of $205.87 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.37%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WFC. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. 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. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Citigroup reissued a “neutral” rating and issued 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 investment 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 stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $58.99.

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.